Yggdrazil Group Public Company Limited (SET: YGG) has announced that Mr. Tanat Juwiwat, its major shareholder, sold shares of the company through the securities trading board as his shareholding dropped from 41.14% to 4.28% in a span of three days.
The company disclosed that On July 2, 2024, Mr. Tanat Juwiwat sold 7,158,100 shares of the company, representing 1.19% of the total voting rights of YGG.
On July 3, 2024, Mr. Tanat Juwiwat sold 11,153,606 shares of the company, representing 1.85% of the total voting rights of the company.
Also, On July 4, 2024, Mr. Tanat Juwiwat sold 203,567,320 shares of the company, representing 33.82% of the total voting rights of YGG.
The stock value of YGG dropped by 66% over five trading sessions from June 28 to July 4, only to recover by 31% on the previous Friday.
Reports suggest that YGG’s securities were extensively utilized for margin trading. Furthermore, a four-day decline in the Thai main stock market from the final week of June to early July led to a forced selling for numerous investors who were unable to inject additional funds into their margin accounts.
