The share price of VGI, a leading out-of-home media service operator, soared up exponentially by 14.29 per cent to 6.80 baht on Wednesday morning at 11:49 a.m., an increase of 0.85 baht, with a trading value of 754.1 million baht.
The opening of the market was at 6.05 baht and the price rose to the ceiling at 6.80 baht, continuing to stay on the peak.
VGI was surprisingly one of the top three most traded stocks during the first half of Wednesday.
It is expected that the surge resulted as a response to Kerry Express (Thailand) PCL submitting its registration statement and filing to be listed on the Stock Exchange of Thailand (SET), since VGI owns a 23 per cent of Kerry, holding 331,200,000 shares (as of August 25).
In a private conversation, a VGI executive told Thai Enquirer that Kerry Thailand has received tremendous growth due to the rapidly rising e-commerce demand during the lockdown months.
The sheer rise in online shopping market even caused the system to initially crash down, said the VGI executive.
Earlier, VGI reported that the spread of coronavirus had a severe impact on the OOH advertising business as economic activities were unable to proceed.
The company’s operating revenue in the first quarter of 2020/21 declined by 50.6 per cent year-on-year to 445 million baht.
