Connect with us


THG head stock purchases before questionable Pfizer news

Neill Fronde



FILE PHOTO: Boon Vanasin, chairman of Thonburi Healthcare Group and his wife are being investigated for questionable stock purchases.

Thailand and Pfizer have had a tricky relationship with frequent announcements and then retractions about whether the vaccine will be approved and imported into the country. The latest was Thonburi Healthcare Group Dr Boon Vanasin announcing they had negotiated 20 million Pfizer vaccines to be brought into Thailand, only to be followed a few hours later by Pfizer-BioNTech responding that they have never had any dealings with THG and no contract had been signed. Now it appears that the seemingly false announcement was made just after the wife of THG head Boon purchased a large amount of stock in the company and is being looked into as possible manipulation or insider trading.

An investigation is being launched by the stock and securities authorities to look into the irregular trading. Between July 2 and July 13, Boon’s wife made 8 transactions and in total bought 950,000 shares of THG stock, paying between 28.50 and 29.50 baht each. Then on July 14, the announcement was made to BBC Thailand that THG is importing 20 million Pfizer-BioNTech vaccines. Shares of THG jumped 13% on the news when it became public the next day, which would equate to about 3.5 million baht in profit for Boon’s wife.

The president of the Stock Exchange of Thailand said all trading is monitored for unusual activity with systems in place to flag and report any suspicious transactions or anything that breaks laws. Irregular transactions that are determined to be unlawful are pursued with legal action.

The Security Exchange Commission requires executives who trade shares of their own company’s stock to file a securities and derivatives holding reports. The SEC’s regulator is now working alongside the SET in its investigation of the irregular transactions. The SET collects data about unusual share price movement and then passes it on to the SEC for a thorough review.

THG maintains that the stock purchases are standard real transactions, but if the SET and SEC find evidence of impropriety in Boon’s wife buying up big stock purchases right before influential news went public, it will be prosecuted as insider trading.

SOURCE: Bangkok Post


Get more from The Thaiger

📱 Download our app on Android or iOS
👋 Have your say on our Thailand forums
🔔 Subscribe to our daily email newsletter
📺 Subscribe / Join YouTube for daily shows
👍 Like/Follow us on Facebook
🐦 FOLLOW us on Twitter
📷 FOLLOW us on Instagram

Neill is a journalist from the United States with 10 years broadcasting experience and national news and magazine publications. He graduated with a degree in journalism and communications from the University of California and has been living in Thailand since 2014.

Follow Thaiger by email:

Coronavirus (Covid-19)6 mins ago

Vaccination registration open for foreign residents over 60 in Bangkok

Coronavirus (Covid-19)2 hours ago

Autopsy results for woman who died after mixing vaccines

Coronavirus (Covid-19)6 hours ago

Covid UPDATE Saturday: 14,260 new infections, news briefs

Welcome back to Thailand!

Thaiger is getting behind local businesses for the restart of tourism in Thailand - up to 50% discounts across all advertising packages!

Thailand11 hours ago

Department head predicts Covid-19 could last up to another year

World13 hours ago

Swedish prison hostage situation resolved with pizza

Thailand14 hours ago

Minister: Foreigners, migrant workers are cared for amid Covid-19

Join the conversation on the Thaiger Talk forums today!
Coronavirus (Covid-19)19 hours ago

“Withhold Intubation” for certain older Thammasat Hospital patients

Coronavirus (Covid-19)19 hours ago

Bang Sue vaccination centre open for expats 60+, under must wait

Coronavirus News & Updates20 hours ago

“Covid-19” deaths said to cause crematorium in Bangkok to partially collapse

Thailand20 hours ago

Nakhon Sawan farmers make large profits growing fingerroot as Covid cure

Coronavirus (Covid-19)20 hours ago

Leaked document: military arranging private Moderna vaccines

Thailand21 hours ago

Nakhon Si Thammarat arrest drug suspect hiding in jar

Media21 hours ago

19 year old man drowns in a Kanchanaburi river while rescuing his puppy

Thailand21 hours ago

Online registration site up for interprovincial travel permission

Thailand21 hours ago

Thailand News Today | Sandbox tweak, ‘filthy rich’ visa, Chon Buri restrictions | July 23

Thailand5 months ago

Thailand News Today | Thai Airways in rehab, All go for Songkran | March 4

Tourism5 months ago

Phuket’s nightlife. Yes, bars and clubs are still open | VIDEO

Phuket5 months ago

Thailand News Today | Covid passport talks, Thai Airways heads to court | March 2

Tourism5 months ago

Phuket Thai food treats you need to try | VIDEO

Thailand5 months ago

Thailand News Today | Bars, pubs and restaurants ‘sort of’ back to normal | Feb 23

Tourism5 months ago

In search of Cat & Dog Cafés in Phuket Town | VIDEO

Thailand6 months ago

Thailand News Today | Gambling crackdown, Seafood market to reopen, Vlogger challenge | Jan 21

Thailand6 months ago

Thailand News Today | Covid testing for visas, Business impact, Vaccine approval | January 19

Thailand6 months ago

Thailand News Today | Weekend Bangkok bombs, Thailand fires, Covid update | January 18

Thailand6 months ago

Thailand News Today | Stray car on runway, Indonesian quake, 300 baht tourist fee | January 15

Thailand6 months ago

Thailand News Today | Governor off respirator, sex-trafficking arrest, condo prices falling | January 14

Thailand6 months ago

Thailand News Today | Chinese vaccine, Thailand ‘drug hub’, Covid update | January 13

Thailand6 months ago

Thailand News Today | Bangkok may ease restrictions, Phuket bar curfew, Vaccine roll out | January 12

Thailand6 months ago

Thailand News Today | Covid latest, Cockfights closed down, Bryde’s Whale beached | January 11

Thailand7 months ago

Thailand News Today | Southern floods, Face mask fines, Thai Air Asia woes | January 8