CHOW Jumps 11% after the Report of Booking ฿505M. from the Sale of Power Plants in Japan

As of 11:40 local time in Bangkok, the share price of Chow Steel Industries Public Company Limited (CHOW) has increased by ฿0.26/share or 11.11% to ฿2.60/share with a trading value of THB 12.6 million. The sudden hike is due to the announcement from CHOW in the early morning as follows:

 

CHOW has announced that the company has already received proceeds from the sale of Fukui1, Fukui5, Fukui6 and Fukui7 project of 1,747.00 million yen or equivalent to 505.23 million baht on March 29, 2019.

The sales were according to the Board and Directors decision from the meeting held on February 27, 2019 granted approval for its indirect subsidiary to enter into an asset disposition transaction of five solar power plant projects in Japan with a combined installed capacity of 5.86 MW(DC), consisting of Gifu, Fukui1, Fukui5, Fukui6 and Fukui7 to an Infrastructure Fund in Japan and/or the Fund’s subsidiaries.