Krungsri Securities (KSS) wrote in a note citing information disclosed by True Corporation that the latest series of debentures issued by True Corporation Public Company Limited (SET: TRUE) for subscription on May 23-27 have better-than-expected response from the the market for its five series with an issuance value of THB12,000 million and THB3,000 million from greenshoe options.
Based on the information, KSS expected that this should lower concerns in the market since last year that investors were worried of TRUE’s debentures not fully subscribed or reaching subscription targets, which put pressure on its share price.
The result from this subscription should help support TRUE’s share price that plunged 11% last week.
KSS maintained its “BUY” recommendation on TRUE with a target price at THB10.30 per share.
