MCOT Public Company Limited (SET: MCOT) has disclosed in its statement to the Stock Exchange of Thailand regarding the news in media outlets that the company is in the process of studying feasibility of selling lands.
It was reported that the company is expecting to sell several plots of lands that could turn into an Entertainment Complex, a maga project of the government that could draw billions of baht to the kingdom.
Moreover, there were also reports that the Ministry of Finance and the Government Savings Bank, a major shareholder of the company, are looking to offload MCOT’s shares as well.
MCOT wrote in the statement that it is in the process of studying feasibility, analyzing and drafting terms of reference of such a project and that its first two major shareholders remain the same (the Ministry of Finance and the Government Savings Bank).
None of significant development has occurred other than what has already been disclosed in the company’s information in accordance with SET’s regulations, said MCOT.
The share price of MCOT settled 27.10% higher at THB9.85 per share. This is after a 30.25% gain on Wednesday.
