JKN Jumps Nearly 5% to Bt10.90 after Acquiring the Right to Operate “New18” Channel
JKN Jumps Nearly 5% to Bt10.90 after Acquiring the Right to Operate “New18” Channel.
JKN Jumps Nearly 5% to Bt10.90 after Acquiring the Right to Operate “New18” Channel.
12 เม.ย. 2564

The share price of JKN Global Media Public Company Limited (JKN) rose ฿0.50/share or 4.81% to ฿10.90/share as of 11:58 local time in Thailand with a trading value of 179 million baht. The highest share price up to this point was ฿11.20/share and the lowest was ฿10.80/share.
 
The increase in share price came after the announcement of entering a sale purchase agreement to purchase DN Broadcast Company Limited (DN), an operator of channel “New 18” with a total investment value approximately THB 1,060,000,000.
 
JKN stated that it will use operating cash flow as the source of funds, with the amount of approximately THB 410 million and will use cash from long term loan from financial institution, at the amount of THB 450 million and payment on installment to the Group of Existing Shareholders of DN, at the amount of THB 200 million, for 3 years, for this Investment.The company expected that payment for the Investment will not affect its liquidity and working capital.
 
KTB Securities (KTBST) had a positive outlook on the move to penetrate commerce business. However, the security company did not include the sales of hemp products into its estimation. KTBST expected the New18 deal to add 45 million baht to JKN’s net profit in 202, giving a target price for JKN to ฿12.50/share and expecting a CAGR for 2020-2022 at 17%.