The share price of Intouch Holdings Public Company Limited (SET: INTUCH) kicked off its afternoon trading session with a good start, paring losses from the morning session amid hopes from investors for interim dividend payment and special dividend after the amalgamation with Gulf Energy Development Public Company Limited (SET: GULF).
INTUCH went from -3.6% in the morning session to a slight gain of 0.3% in the afternoon before slipping below the flat line to trade around -0.3% as of 14:50 local time in Bangkok on Wednesday, July 17, 2024.
The drop in INTUCH’s share price occurred after the announcement of an amalgamation between GULF and INTUCH last night. According to UOB Kay Hian Securities, share price of INTUCH has a higher premium for an allocation in NewCo, compared to GULF, resulting in a plummet of share price in the morning session.
However, the share price of INTUCH bounced back in the afternoon after GULF held an analyst meeting and indicated that INTUCH will continue to pay an interim dividend from both 1H and 2H operation and also a special dividend after the completion of VTO.
The ADVANC VTO and THCOM VTO is expected to be in 4Q24 – 1Q25. It is expected the Amalgamation to be completed in the second quarter of 2025.
