PACE Dives 22% in 3 Days over Capital Increase and Selling Dean & DeLuca Cafe Japan

PACE has plunged 22.5% since March 12, the day that the company announced a plan for a capital increase.

The share price of Pace Development Corporation Public Company Limited (PACE) slumps again on March 14, 2019, after the company announced to sell 50% stake in Dean & DeLuca Café Japan Co., Ltd. (DDCJ) to Welcome Co., Ltd. in the amount not less than USD 10,000,000 or approximately THB 310,997,000 which is higher than the book value at the end of 2018 recorded at THB 262,603,511.

At 11:30 local time, PACE plunged 0.01/share or 4.0% to 0.24/share with 1.35 million in value. Earlier, PACE sank to ฿0.23/share, decreased 8%.

On March 12, 2019, PACE also faced a huge plummet of 19.35% after the Board of Directors aimed for capital increase by issuing 12.3 million of newly-issued ordinary shares mainly to repay short-term and long-term loans, which makes PACE to plunge 22.5% in total since March 12.