On Monday at 11:59 A.M. (Bangkok time), the share price of Delta Electronics (Thailand) Public Company Limited (SET: DELTA) fell 8.87% or THB 16.50 to THB 169.50 per share, with a trading value of THB 12.43 billion, after the notification of a significant change in the company’s shareholding structure following a private placement on the Big-Lot Board.
On 8 January 2026, Delta International Holding Limited B.V. (DIH), a subsidiary of the Taiwan-based Delta Electronics Inc. (DEI), offloaded 51,200,000 ordinary shares. This transaction represents 0.41% of the Company’s total issued and paid-up shares.
According to the disclosure signed by Director Cheng An, the divestment was executed to enrich working capital for current business operations and to provide funding for future expansion.
Before the transaction, DIH held 1,768,611,700 shares, accounting for a 14.18% stake. Following the sale, its holding has been reduced to 1,717,411,700 shares, or approximately 13.77% of the Company.
The company noted that investors seeking clarity on corporate governance were informed that this shift in shareholding will have no impact on the company’s core operations. Delta Thailand confirmed that the following areas remain unchanged:
- The composition of the Board of Directors and management team.
- The overall business management structure.
- Company policies and ongoing business operations.
Mr. Koraphat Vorachet, Head of Research at Krungsri Securities, stated that, according to news reports, DIH is offering to sell 45.8 million shares of DELTA in the morning at a price range of THB 171-175 per share. This represents a discount of 5.91-8.06% from the latest closing price.
Typically, an overnight big lot priced beneath the major moving average line, lower than the DMA-50 at THB 200.20, is usually seen as exerting short-term downward pressure on the price. However, in the case of DELTA, the analytical context might be different.
In the past, a considerable number of institutional investors have consistently reflected that DELTA is a high-growth stock aligned with the mega trend of the Tech Industry. However, “low liquidity” for holding larger positions, and placing free float status on paper may appear adequate, but in practice, the actively traded shares in the market are limited, making it difficult to build positions.
In this context, the fact that the major shareholder is distributing shares through an overnight block may not be a negative signal for business fundamentals and growth opportunities. Rather, it is likely to represent an increase in supply, paving the way for institutional money to come in and resolving the limited liquidity of circulating shares in the market in this initial round.
Therefore, the decisive issue is not “why are they selling,” but whether the market has enough demand to absorb this supply. If the demand is high and the big lot is fully absorbed without the price falling below the THB 171-175 range, this price level will not serve as a discount reference but will become the average cost base for institutions.
Hence, this issue is very important because when this type of capital enters, the downside will be limited, while liquidity and shareholder structure will improve.
