Kaohoon’s Top News on March 22, 2021

– PTTGC invested 7.5 billion baht to make a tender offer for all ordinary shares in VNT. PTTGC will purchase 192 million shares, representing 16.24%, from other shareholders of VNT at the tender offer price of ฿39/share, and later VNT will be delisted from the market. Furthermore, once the delisting of VNT completes, PTTGC and AGC Inc. will support the merger between VNT and AGC Chemicals (Thailand) (AGC-TH) to form a newly established company in order to strengthen downstream chemical business to enter the CLMV market.

 

– Speculations over the merger with JASTEL raised JTS’s share price more than 400% in a month as this synergy could drive 2021 earnings to exceed 100 million baht.  

 

– FDA put hemp stocks in panic after recalling license for importing hemp seeds from 7 companies including DOD. The announcement dragged the share price of DOD and its 4 allies JKN-CHAYO-KISS-BEAUTY to edge lower on Friday 19th March. However, FDA later clarified that the recall was to amend the attached details of the license for more clarification and would not affect the license holders in any ways. 

 

– PACO to begin trading in mai today (March 22), analysts expect its share price could jump above its IPO price at ฿1.40/share as the company has booked a net profit of 76.86 million baht in 2020, an increase of 150% YoY, giving a target price at ฿1.65/share. PACO is a manufacturer and distributor of automotive air conditioning parts for domestic and foreign customers in the replacement market.

 

– MRTA to abandon the plan for Yellow Line extension after failing in negotiation with BTS. In the matters of the impact assessment of Yellow Line extension on MRT Blue Line, BEM, as the operator of Blue Line, could lose 988 million baht in the first year or equivalent to 2.7 million baht for 30 years.