Sansiri chief buys 85mn shares
Sansiri Plc President Srettha Thavisin has bought another 85 million shares of the company, expecting the share price to rise on the company's strong potential.
In a statement, Srettha said that the share price is below fundamentals compared to the growth story. Despite floods, the company's financial position is nearly intact and due to backlogs worth Bt33 billion of which Bt14 billion will be realised next year, the company stands firm to reap huge earning growth.
The Securities and Exchange Commission was today informed of the big-lot transaction, at the price of Bt1.18 a share.
The stock ended 3.48 per cent higher today to Bt1.19. According to the stock exchange's website, Sansiri witnessed huge turnover volume during Nov 23-25, when over 20 million shares were changed hands daily.
Following the transaction, his personal holding as well as the holding by TS Star Co Ltd total 1.4 billion shares or 20.08 per cent of paid-up capital.
"I completed this big-lot transaction out of confidence in the potential of the company and the management team. We're looking forward to buying more shares," he said.
Sansiri expects revenue this year to reach Bt19 billion, with Bt6 billion to be generated by three condominium projects in the fourth quarter. Next year, it plans to expand to provinces like Hua Hin, Phuket and Khao Yai.
