GULF Soars 4% to ฿31 as Analysts Expect No Selling Pressure on the New Listed Shares

The share price of Gulf Energy Development Public Company Limited (GULF) rose ฿1.25/share or 4.20% to ฿31.00/share with a trading value of 426 million baht.

 

Today is the first day that 1,066.6 million shares of GULF’s additional listed shares from Rights Offering were added into the market. DBS Vickers Securities expected no selling pressure in GULF as the current share price dropped to the level considered the price after a capital increase, while the average price before the XR date was at the range of 33.70-35.80 baht per share, which was considerably high.

DBS Vickers Securities believed that BBL, STEC and ROJNA, as GULF’s shareholders, would not sell GULF at the moment.