AOT Overtakes PTT to Rise as Thailand’s Largest Market-Cap Company!

PTT Public Company Limited (PTT) was Thailand’s largest listed companies with a market capitalization of 1.07 trillion baht as of March 6, 2020, trailed by Airports of Thailand Public Company Limited (AOT) with a 907 billion baht of market capitalization.

 

Due to an unexpected change of event last Friday and during the weekend after Russia retreated from OPEC’s agreement in production cut, Saudi Arabia to announce a discount to its selling oil price and prepared to pump its production even more. This caused global stocks to plunge on Monday, March 9, 2020, and a direct hit to PTT’s share price.

 

PTT fell ฿9.50/share or 25.33% to trade at ฿28.00/share with a trading value of 18.7 billion baht. Meanwhile, AOT lost ฿3.25/share or 5.12% to trade at ฿60.25/share with a trading value of 2.4 billion baht.

The plummet in PTT’s share prices caused the company to lose its position as Thailand’s largest market-cap company to AOT. After the session on Monday, AOT’s market capitalization was 860 billion baht while PTT’s market capitalization was 799 billion baht.