The share price of SKY ICT Public Company Limited (SET: SKY) rose sharply on Tuesday after the announcement of addition into MSCI Global Small Cap Index and the possibility for its subsidiary, AOTGA, to acquire more projects at Suvarnabhumi Airport.
At the opening of Tuesday’s session, SKY jumped 10.43% to THB31.75 per share, following the announcement of MSCI Rebalance that added the company into the Small Cap Index.
The new weighing will be effective on March 1, 2024, based on the closing price on February 29, 2024.
Meanwhile, there are talks in the market that AOTGA could step in to provide ground service at Suvarnabhumi Airport during the bidding process for the new provider after several reports from airlines that Thai Airways failed to provide smooth operations at the airport.
SKY holds 42.12% shareholding in SAL GROUP (THAILAND) CO., LTD. (SAL), a holding company that holds 51% of the total shares of AOT Ground Aviation Services Co., Ltd. (AOTGA), which is a joint venture between SAL and Airports of Thailand Public Company Limited (SET: AOT). The company engages in the business of providing aircraft and passenger services at airports that are under the responsibility of AOT.
AOTGA is expected to bid for the project for the groundworks worth 29.3 billion baht.