PK Gains 10% with an Overwhelming Trading Value in Anticipation on BBL Topping Stake

The share price of Patkol Public Company Limited (PK) rose 10% in the morning session on August 4, 2021, with another surge on the anticipation of Bangkok Bank Public Company Limited (BBL) to top up its shareholding stake in PK to 25%.

 

At the closing of the morning session, the share price of PK rose ฿0.30/share or 10.79% to ฿3.08/share with a trading value of 316 million baht.

 

On July 8, 2021, PK announced that BBL submitted its intention to exercise the right to purchase ordinary shares (PK-W) on June 1, 2021, as a creditor of PK under the implementation of the business rehabilitation plan.

According to the order of the Central Bankruptcy Court on March 30, 2011, BBL owns 28.70% of PK’s shares. which has a stake that crosses the tender offer point. However, BBL has announced that it will reduce the shareholding of the business to less than 25%, therefore not having to make a tender offer according to the announcement of the Capital Market Supervisory Board and details are in the report 246-2 published on July 8, 2021.