The share price of SCB X Public Company Limited (SET: SCB) rose 67% from THB71.00 to THB118.50 per share on its first trading day in the Stock Exchange of Thailand (SET). The highest price was THB121.50 at the opening session.
SCB is a holding company, which operates by investing in other companies, and has The Siam Commercial Bank Public Company Limited, a corporate banking, as a subsidiary operating main business.
SET stated that regulation for trading price limit of newly listed securities (Ceiling and Floor) specifies that the floor price is not less than THB0.01 and the ceiling price is not exceeding 3 times of the initial public offering (IPO) price. However, as SCB’s ordinary shares come from the share swap with SCB’s ordinary shares and preferred shares due to the business restructuring plan without public offering, SET will use the last trading price of SCBB’s securities (THB71.00) as the underlying price to calculate the Ceiling and Floor for SCB.
In addition, as The Siam Commercial Bank Public Company Limited (SCBB) established SCB X Public Company Limited (SCB) for undertaking the restructuring of shareholding structure, SCBB has been delisted from the Thai stock market from today onward.
