VGI Drops 7% on KEX’s First Trading Day as Analyst Views as a “Sell on Fact”

The share price of VGI Public Company Limited (VGI) fell ฿0.55/share or 7.10% to ฿7.20/share with a trading value of 608 million baht as of 11:47 local time in Thailand on Thursday.

 

VGI holds 19.03% in Kerry Express (Thailand) Public Company Limited (KEX), which kicked off its first trading day today with a jump of 132% to ฿65.00/share at the open, then erasing the gain to ฿50.75/share as of 11:47 local time in Thailand

 

The analyst stated that the plummet in VGI could be the fact that the share price had already priced in the coming of KEX in the past two days, resulting in a selloff on the first trading day of KEX.

VGI closed 6.16% higher on December 23, 2020, and also gained 4.29% a day before.