GULF Soars 9.5% amid Market Plummet in Hopes of an Approval for Stock Split!

The share price of Gulf Energy Development Public Company Limited (GULF) made a high jump by 9.57% while the company is holding the 2020 Annual General Meeting of Shareholders with an agenda to approve a stock split.

 

As of 10:46 local time in Thailand on Wednesday, GULF rose ฿15.50/share or 9.57% to trade at ฿177.50/share with a trading value of 3,524 million baht.

In addition to the 2020 Annual General Meeting of Shareholders, one of the agenda includes a stock split from 5 existing shares to 1 newly issued shares. Moreover, the shareholders will need to approve a dividend payment at ฿1.30/share as well. Analysts expected the stock split to allow minor investors to be able to invest in GULF.