UREKA Rallies on False Report of Back-Door Listing by “Vongsayam Korsang”

The share price of Eureka Design Public Company Limited (mai: UREKA) extends gaining streak to its fourth day on the report of a potential back-door listing from Vongsayam Korsang Co., Ltd., a Thai construction company specialized in water utility systems that recently acquired the EEC water transmission pipeline contract worth 25 billion baht from the Thai government.

UREKA gained more than 70% in the past four days, hitting the price ceiling yesterday on the news report of back-door listing from Vongsayam Korsang Co., Ltd. However, Vongsayam Korsang’s CEO Anurit Kerdsinchai dismissed the report and said that the company will enter the Thai stock market by itself and not back-door listing, according to the source close with the matter.