The Stock Exchange of Thailand (SET) is delisting the securities of All Inspire Development (ALL), Stark Corporation and World Corporation because they were unable to resolve the grounds for delisting, or to meet the qualifications to resume trading within the specified deadline.
According to the SET, property developer All Inspire is under receivership by a court order, while Stark, the scandal-plagued wire and cable manufacturer, disclosed false information in financial statements.
World, a property development company under rehabilitation, has shareholder equity of less than zero and is unable to regain the qualifications to resume trading by the specified deadline.
The SET is allowing trading of the three securities for seven business days before the effective date of delisting, from Aug 23 to Sept 2.
The purchase of such securities must be done through a cash balance account, meaning investors have to pay the full amount in cash prior to purchase, the bourse said in a statement on Wednesday.
The NC (non-compliance) sign will be posted during such trading period in order to alert investors to be careful when trading securities.
The ceiling and floor prices of All Inspire, Stark and World on the first trading day (Aug 23) will not be specified until the trading of such securities occurs.
After the trading of securities occurs, the ceiling and floor prices will subsequently be adjusted according to normal criteria from the next business day.
At the end of the trading period, the SET will delist the securities of the listed securities, effective from Sept 3, the statement noted.
"The SET recommends shareholders and investors trade securities with caution and carefully study the information of the company such as financial position, operating results, type of auditors' reports, major shareholders, board of directors, previous news as well as risks and other related factors," the statement said.
In addition, to provide investors with information, the SET is offering preliminary summaries of information of the latest financial statements, together with auditors' reports and the latest annual registration statements (56-1 One Report) companies disclosed via the SET's disclosure system.
After the securities are delisted, shareholders and investors can follow up on their financial position, operating results and 56-1 One Report from the Securities and Exchange Commission's website at www.sec.or.th, the statement added.