TBN shares surge 144% on MAI debut, SET issues cautionary note

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The Market for Alternative Investment (MAI) saw the debut of TBN Corporation shares on Monday, leading the Stock Exchange of Thailand (SET) to issue a cautionary note to investors in light of high trading speculation.

Yesterday morning, TBN shares experienced a trading turnover ratio of 85%, reaching 41.5 baht by midday. The 144% increase was up from the initial public offering (IPO) price of 17 baht and resulted in a trading value of 3.59 billion baht. TBN, a technology group, saw its shares surge to 42.5 baht during Monday’s debut session, ending with a trading value of 2.6 billion baht.

A SET statement highlighted seven “big lot” sell orders involving 9.5 million shares from existing shareholders, priced at 20.75 baht each. With this information, the SET advised investors to consider all aspects before trading TBN shares and requested brokers to closely supervise trading activities.

TBN Corporation, an integrated digital design and development services provider, reported total assets of 320 million baht and total liabilities of 218 million baht by March this year, reported Bangkok Post.

The company specialises in consulting on digital transformation and creating customised solutions using Mendix’s low-code development platform. As the first licensed reseller of Siemens’ Mendix software in Thailand, TBN’s paid-up capital after the IPO amounts to 50 million baht, with a par value of 0.50 baht.

The IPO shares consist of 75 million existing ordinary shares and 25 million newly issued ordinary shares.

Yesterday, TBN shares closed on the MAI at 29.5 baht, down 30.6%, with a trading value of 4.39 billion baht.

Recently, foreign investors have sold 100 billion baht in Thai stocks due to concerns over global rate increases and political uncertainties surrounding the formation of a new government. Nevertheless, the Stock Exchange of Thailand remains optimistic, as they believe the recent easing of the US debt ceiling could improve global sentiment and encourage increased investment in Thai stocks. Read more about the story HERE.

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Alex Morgan

Alex is a 42-year-old former corporate executive and business consultant with a degree in business administration. Boasting over 15 years of experience working in various industries, including technology, finance, and marketing, Alex has acquired in-depth knowledge about business strategies, management principles, and market trends. In recent years, Alex has transitioned into writing business articles and providing expert commentary on business-related issues. Fluent in English and proficient in data analysis, Alex strives to deliver well-researched and insightful content to readers, combining practical experience with a keen analytical eye to offer valuable perspectives on the ever-evolving business landscape.

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