CHAYO Plunges 15.6% as Rumors of a Selloff from PP for a Profit of 30% Circulates
CHAYO Plunges 15.6% as Rumors of a Selloff from PP for a Profit of 30% Circulates 
CHAYO Plunges 15.6% as Rumors of a Selloff from PP for a Profit of 30% Circulates
1 พ.ค. 2562

On April 30, 2019, the share price of Chayo Group Public Company Limited (CHAYO) closed the morning session at ฿0.76/share or 15.64% to ฿4.10/share with a trading value of THB 186.32 million.
Reporter states that a huge plummet of CHAYO today is due to the rumor of 28 individuals (private placement) had sold the shares today (April 30) at a total amount of 40 million shares or 6.67% of paid-up capital after a capital increase at a subscription rate of ฿3.83/share. Thus said, the profit would be about 29% if the shares had been sold at the highest point of the day, which is ฿4.94/share.
According to the investigation of “Kaohoon Online”, CHAYO had stated this following sentence in the letter submitted to SET on March 18, 2019m regarding the issuance and offering of the company’s newly issued ordinary shares by way of private placement under general mandate.
“For the purpose of this offering of the newly issued ordinary shares to the specific investors, in order to provide an assurance to the company and its retail shareholders, all specific investors agree no to sell the newly issued ordinary shares allocated on this occasion for six months from the date on which the company’s shares start trading on the Stock Exchange of Thailand (Silent Period) on the voluntary lock-up basis.”
 
However, there is no indication whether the aforementioned is considered a silent period or just an agreement between purchasers and CHAYO.
 