After an eagerly anticipated merger, Gulf Energy Development PCL and Intouch Holdings PCL have finally consolidated to form Gulf Development Public Company Limited (SET: GULF), officially commence trading on April 3, 2025.
Gulf Development PCL is poised as a prominent holding company with diversified interests across three major sectors: power generation, infrastructure and utilities, and digital business. The company boasts a paid-up registered capital of 14,939.84 million baht, with a market capitalization steered by its initial market interactions at the end of the first trading day.
On March 20, 2025, the final trading sessions positioned the shares of Gulf Energy Development at 49.75 baht each, while Intouch Holdings’ closed at 81.50 baht. The market values of both companies stood at 583,724.21 million baht and 261,345.05 million baht respectively at the time.
In this initial trading phase, GULF’s stock price will not be confined by any ceiling or floor, allowing it to be shaped dynamically by market forces.
Leading up to this, preparatory actions for this listing have been underway since March 21, 2025, when Gulf Energy Development temporarily adopted the ticker ‘GULFI’. During the merger proceedings, trading for both GULFI and INTUCH was suspended from March 21 to April 2, 2025, to facilitate the transition and consolidation efforts.
On April 1, 2025, the GULFI and INTUCH listings officially ceased, making way for Gulf Development’s official registration on the trading system the following day under the ‘GULF’ tick symbol. Following its debut, GULF will quickly become a part of several key SET indices including SET50, SET50FF, SET100, SET100FF, SETESG, SETCLMV, and SETHD, succeeding the original listings of GULF and INTUCH.
At 10:42 AM (Bangkok time), GULF’s share price was at THB 49.00 per share, with a trading value of THB 1.58 billion.
