The bullish Jasmine Telecom Systems Public Company Limited (JTS) continued to edge higher without slowing down as the share price has surged more than 100% from March 1, 2021.
As of 10:09 local time in Thailand on Friday, JTS gained ฿0.80/share or 15.24% to ฿6.05/share with a trading value of 22.7 million baht. The highest share price up to this point was ฿6.30/share and the lowest was ฿5.50/share.
Meanwhile, the share price has surged 104% 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.