Mr. Chuwit Jungtanasomboon, Chief Executive Officer of North East Rubber Public Company Limited (SET: NER), told ‘Kaohoon’ that he does not know about the Big Lot transactions of NER on Tuesday that executed at a lower than the trading price in the market.
According to the information shown in the Stock Exchange of Thailand’s website, three big lot transactions of NER were executed for a total of 30 million shares, amounting 151 million baht at an average price of THB5.04 per share.
The share price of NER in the stock market is trading at THB5.20 per share during the morning session of October 8, 2024. The trading price dropped 1.89% with the highest price of the day at THB5.35 and the lowest at 5.15 per share.
Other major shareholders that hold more than 30 million shares in NER are State Street Europe Limited, an investment management firm, Mr. Jirayut Jungtanasomboon, Thai NVDR Company Limited and Ms. Mathucha Jungtanasomboon.
Last month, Mr. Chuwit revealed to ‘Kaohoon’ that its sales revenue in 3Q24 should be in line with its expectations by virtue of rubber price staying high, while September saw more than 3000 tons of EUDR rubber exports to China, with the possibility of closing a deal with customers from Korea. The rubber export at the end of the year could be as much as 45,000 tons.
Prediction for 4Q24 saw continuous growth toward the 2024 goal of THB 25 billion in revenue, even though there is a pressure from sales dropping 10% from 500,000 tons to 440,000 tons owing to lower supply. September of this year saw the company exporting 3,000 tons of rubber under European Union Deforestation Regulation (EUDR) compliant to Chinese customers, and are under the process of closing the deal with a Korean client with the possibility of shipping starting in 2024Q4. EUDR rubber initial shipment is expected to be at 45,000 tons within 2024, and could grow further in 2025.
