7UP Jumps 28% after the Announcement of Acquiring 38% in “Seahorse Ferry”
7UP has gone skyrocket by as much as 28% or ฿0.11/share to ฿0.50/share in less than 30 minutes in the morning session on August 19.
The share price of Seven Utilities and Power Public Company Limited (7UP) has gone skyrocket by as much as 28% or ฿0.11/share to ฿0.50/share in less than 30 minutes in the morning session on August 19.
A jump in the share price may be due to the announcement of an investment amount 263 million to acquire 38% stake in “Seahorse Ferry Company Limited” for future business of cargo and passengers between the eastern region, lower central region and southern region, expecting a contribution in solving the current traffic problem.
Moreover, the company had just reported a turnaround of net profit on its 2Q19 financial statement to record a net profit of THB 47 million in 2Q19, compared to a net loss of THB 11.6 million in 2Q18.
The announcement resulted in a lifting of caution sign (C) from the Stock Exchange of Thailand (SET).
