The share price of Airports of Thailand Public Company Limited (SET: AOT) made a sharp plunge in the afternoon session, tumbling from slightly above the flat line to down 6% at the closing on Tuesday.
The sudden downturn was due to the disclosure of the company during the afternoon break, indicating the amendment of its previous announcement on allowing a late payment of Minimum Annual Guarantee (MAG) for King Power by additional two months, citing liquidity problems from its concessionaires.
The original disclosure on February 17 indicated an extension from September 2024 – February 2025, but the revision on March 4 indicated an extension from September 2024 – April 2025.
While it is only a two-month extension, it reflects negative sentiment on AOT’s stocks.
