On Tuesday at 10:24 AM (Bangkok time), the share price of Delta Electronics (Thailand) Public Company Limited (SET: DELTA) declined by 6.40% or THB 9.50 to THB 139.00, with a trading value of THB 7.23 billion.
The Stock Exchange of Thailand (SET) reported a big-lot of DELTA at the amount of 33,381,600 shares, totaling THB 4.47 billion, at an average price of THB 134.00 per share. The selling price was lower than the actual trading price in the market that showed the lowest price of THB 137.00 per share.
The shareholders of DELTA holding more than 33 million shares, who likely initiated the transaction, comprise: Delta Electronics Singapore Pte Ltd, DELTA INTERNATIONAL HOLDING LIMITED, Delta Electronics Inc, HSBC HONG KONG, UBS AG/Hong Kong, Stock Exchange of Thailand Co Ltd/The, State Street Corp, SCB Asset Management Co Ltd, and TMB Asset Management Co Ltd/Thailand.
Recently, Delta Taiwan declared that Delta International Holding (DIH), its subsidiary, will launch exchangeable bonds valued at $525 million (around THB 18.3 billion).
These are structured as zero-coupon bonds maturing in five years, with a conversion feature into Delta Thailand (SET: DELTA) shares at THB 187.6 each. This conversion rate has a 40% premium on the reference price of THB 134.
Holders of these bonds will have the option to convert in 2028, the third year post-issuance. If all bonds are exchanged, this could potentially amount to around 98 million DELTA shares, representing 0.8% of the company’s stock.
