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SET to impose Market Surveillance Measure’s Level 1 on DELTA from November 21 to December 11
The Stock Exchange of Thailand (SET) announced that Delta Electronics (Thailand) pcl (DELTA) will be placed under Level 1 of market surveillance measure from November 21 to December 11, 2024 and urges investors to exercise thorough due diligence and careful consideration prior to undertaking any investment decision.
During the Level 1 restriction period, member companies are required to exclude DELTA from credit limit calculations and to apply a cash balance requirement (100 percent cash deposit of the trading value) for all DELTA share trading transactions. In the event that unusual trading patterns persist without justifiable fundamental factors, SET will progressively implement more stringent measures, escalating to Level 2 and Level 3 pursuant to established market surveillance protocols.
DELTA trading movements are as follows:
- DELTA price had risen continuously and substantially above fundamental valuations. As of November 20, 2024, DELTA recorded a new all-time high of THB 173.50, with price to earnings (P/E) ratio of 100.68 times and price to book value (P/BV) ratio at 28.03 times.
- The price movement impacted overall market conditions as DELTA’s market capitalization has soared by 57 percent from THB 1.38 trillion (USD 39.94 billion) to THB 2.16 trillion in less than two months since October 2024.
During today’s afternoon session, DELTA surged 3.58 percent from its morning close (which had already risen 1.21 percent from the previous day), leading the market with the highest trading value of THB 2.37 billion, up from THB 667 million (ranked 5th) in the morning session, without any material supporting information or developments (according to DELTA’s statement of clarification via SET’s system).
Remark: Market surveillance measures for implementation by member companies:
Level 1 : Exclusion from credit limit calculation, and cash balance requirement (100 percent cash payment).
Level 2 : Prohibition of net settlement, exclusion from credit limit calculation, cash balance requirement, and auction trade only.
Level 3 : One-day trading suspension on the first trading day, prohibition of net settlement, exclusion from credit limit calculation, cash balance requirement, and auction trade only.
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