GL Plunges 31% on the First Temporary Trading Session before Being Benched on Sidelines

The share price of Group Lease Public Company Limited (GL) fell as much as 31.66% to ฿0.82/share after the Stock Exchange of Thailand (SET) allowed a temporary trading on GL’s securities before reimposing an SP sign.

The temporary trading will be during February 17, 2021 – March 16, 2021 by purchasing with a Cash Balance account.

 

The suspension sign on GL has been posted due to the company failing to submit its 3Q20 financial statement due to prolonged lawsuit.

 

In this temporary trading, SET will specify the ceiling and floor prices of GL’s securities on the first trading day, which effective date is February 17, 2021 onwards, at 100% of the last trading prices. (However, if there is no trading of such securities on February 17, 2021, the ceiling and floor prices limit criteria will be valid until trading of the securities occur). The ceiling and floor prices will  be subsequently adjusted to normal criteria from the next business day. The trading of GL’s securities will be excluded from the calculation of SET index.

 

In addition, SET stated that the firm recommended investors to carefully study GL’s information such as financial positions, operating results, type of auditor’s report, major shareholders, board of directors, historical news as well as risks and other related factors.