TRUE Rebounds 3%, Denying Rumor of Capital Increase by Showing ฿23bn Cash on Hand!

As of 10:15 local time in Thailand, the share price of True Corporation Public Company Limited (TRUE) rebounded by ฿0.14/share or 3.37% to trade at ฿4.30/share after a plummet of an accumulative 21.4% in the past four days from worries over lower normalized net profit in 3Q19 and the rumor of capital increase.

On November 20, 2019, TRUE had made an announcement regarding the rumor in the market that TRUE will raise equity for Baht 3 per share.

TRUE has declined rumor while asserting that as of 30th September 2019, the company had Baht 23 billion of cash on hand and 3.2 billion units of DIF worth approximately Baht 54 billion, calculating from today’s closing price. In this regard, TRUE has no need to raise capital.