JTS Gains another 20% in Anticipation of a Value-Added Recognition from Acquiring JASTEL

The share price of Jasmine Telecom Systems Public Company Limited (JTS) soared ฿0.70/share or 20.47% to ฿4.12/share as of 10:45 local time in Thailand on Tuesday.

 

JTS has surged 39% from ฿2.96/share since the announcement of the business restructuring program by acquiring Jastel Network Co., Ltd. (JASTEL), a direct and indirect subsidiary of Jasmine International Public Company Limited (JAS), on March 1, 2021.

 

The company stated that the entry into the Transaction will create business synergies between JTS and JASTEL and increase the opportunities and readiness for the enhancement of the data center and cloud service businesses of JTS in the future, which will be beneficial to the company in many respects. In this regard, JSTC has already entered into the share purchase agreement in respect of the JASTEL shares with JTS today.