The share price of Inter Pharma Public Company Limited (IP) late Tuesday (Sep 8th) suddenly dropped 7.46% to trade at ฿12.40/share with a trading value of 70 million baht…wondering what happened to IP…?
It was previously expected an outstanding revenue for IP in 2H20 as the company already recognized a profit of more than 30 million baht in 1H20.
The major shareholder and Chief Executive Officer of IP “Mr. Songwut Sakchalathorn” last week has disposed 2 big lots of 11.30 million shares in total, representing 5.48% of the total issued shares, for the amount of 142.38 million baht at an average price of ฿12.60/share. The first big lot was sold on September 3, 2020 and the second lot was on September 8, 2020.
Initially, “Songwut” has been estimated to gain a huge amount of 136.73 million baht from this transaction as the cost of IP’s equity was ฿0.50/share (par value based).
Therefore, no wonder why investors were in a shock after acknowledging a big lot transaction…as there was a lesson before from many listed-companies. The major shareholders gradually dispose of their shares till they hold a little amount of them, which is considered a negative sentiment for investors.
The more selloff, the more business recession. Hopefully, “Mr. Songwut” won’t be like others.
The said selloff was allocated to Mr. Thiraphong Chansiri, President and CEO of Thai Union Group Public Company Limited (TU), beading “Thiraphong” to become the 3rd major shareholder of IP (holds 5.48%).
The step-in of “Thiraphong” was expected to boost investors’ confidence in IP and reinforce business growth and expansion overseas via TU’s experiences and networkings.
Meanwhile, TU would be able to extend its business unit apart from food products to healthy products.