The share price of Banpu Public Company Limited (BANPU) bounced back in the morning session on July 2, 2021, after a nearly 15% drop yesterday due to concerns over the capital increase and dilution effect.
As of 11:03 local time in Thailand, the share price of BANPU rose ฿0.50/share or 3.76% to ฿13.80/share with a trading value of 2,909 million baht.
The share price rebounded from a 14.74% plummet in yesterday’s session with a trading value of 8,833 million baht.
On June 30, 2021, BANPU’s Board of Directors resolved to propose to the Extraordinary General Meeting of the Shareholders to consider and approve the increase of the company’s registered capital of Baht 5,074,581,516 from Baht 5,074,581,515 to Baht 10,149,163,031 by issuing 5,074,581,516 new ordinary shares at Baht 1 par value per share. The Boards also resolved to approve the issuance of three warrants as well.
In the meantime, the coal price (Newcastle) continued to edge higher to $131.45/MT as demand for coal continued to rise amid lower supply.