AWC Drops Near 4% to a New Low at ฿5.20/Share as Greenshoe Options Expire!

The share price of Asset World Corp Public Company Limited (AWC) continued to plunge further in the morning session of November 12, 2019 after a decline of 10.74% in yesterday’s trading session.

The plummet dragged AWC’s share prices to decline to ฿5.20/share (-3.8%) in today’s trading session, which is lower than its IPO price at ฿6.00/share while having a P/E at 277.6x when calculating from its IPO prices.

One of the main reasons for the decline might be due to the fact that yesterday was the first business day after the expiration of AWS’s greenshoe options.

The over-allotment of 1,043,000,000 newly-issued ordinary shares by Phatra Securities Public Company Limited as the over-allotment agent who borrowed 1,043,000,000 ordinary shares from Mr. Charoen Sirivadhanabhakdi to deliver to the subscribers.

The Over-Allotment Agent shall procure the aforementioned number of shares by purchasing AWC’s shares traded on the Stock Exchange of Thailand (SET) or by exercising the right to purchase AWC’s shares allocated for such purpose, in the total number of 1,043,000,000 shares, within 30 days from the date on which AWC’s shares start trading on the SET, which would fall on 8 November 2019.