The Court Dismisses “Juti”’s Petition against SEC Unlawfully Allows SISB to Sell IPO
Still, no ruling over the selling of SISB’s IPO as the Court required additional elucidation from the Stock Exchange of Thailand and orders “Juti” to file a new petition before December 11, 2018.
The reporter reports that the Administrative Court has denied an injunction regarding Mr. Juti Krairiksh filed a petition over the Securities and Exchange Commission (SEC)’s unlawful act on allowing SISB Public Company Limited (SISB) to sell its IPO.
However, SISB has already been listed in the stock market and begun trading, while the petition still lacks of additional elucidation from the Stock Exchange of Thailand (SET), thus, the Administrative Court has ordered the petitioner to file a new petition before December 11, 2018.
The source has revealed to “Kaohoon” that there are possibly three rulings from the Court regarding this case that could significantly affect SISB’s shares.
- The case of the Administrative Court accepts the petition and orders an injunction will damage SISB significantly.
- The case of the Administrative Court accepts the petition, but dismisses an injunction will damage SISB’s shares as well, but not as much as the first case.
- The case of the Administrative Court dismisses the petition will positively support SISB’s shares.
The Court’s hearing cannot be estimated by any parties other than the court itself, thus, any trading during this period may have higher risks.
At 16:00 on December 7, 2018, SISB’s shares have hiked ฿0.28 or 6.31% to ฿4.72/share with ฿332 million in value.
