A Musical Chair for Board Member Position in ‘Sabuy Technology’

Miss Grand International Public Company Limited (mai: MGI) has announced on April 4 that its Chief Executive Officer Mr. Nawat Itsaragrisil requested to step down as a Vice Chairman of the Executive Committee of Sabuy Technology Public Company Limited (SET: SABUY) after the company announced an acquisition of 1.7% shareholding in SABUY on Monday, April 1 and appointed Mr. Nawat was the member of the board on the same day.

MGI stated in its publication that the company has assigned Mr. Ratchaphol Chantaratim, a director and deputy chief executive officer of MGI, to assume the position of director and deputy managing director of SABUY.

The share price of MGI and SABUY were on a free fall this week following the acquisition of SABUY and sales of shareholding stake from the company’s major shareholder and also the one who builds SABUY in the first place.

The share price of SABUY continued to decline in the morning session on Friday as much as 22.50% before paring some losses to trade around -5% in late morning.


Yesterday, the Stock Exchange of Thailand has advised investors to thoroughly study information before deciding to buy or sell securities of SABUY Technology Public Company Limited (SET: SABUY) following significant movement in trading activities on April 3 and 4, 2024.

Key Points Include:

  • Sharp Decline in Trading Activity: The stock price experienced continuous downward adjustments for two consecutive days (-51%), reaching the floor price with no remaining bid offers since market opening on April 4. The stock maintained its level and closed the morning session at 2.28 Baht, marking a decrease of 29.63% with a total trading value of 90 million Baht. This was contrasted against a marginal decrease in the SET Index by 0.29% and a slight increase in the Sector Index (COMM) by 0.12%.
  • Large Number of Sellers: Up to 85% of the total trading volume on April 4 were contributed by sellers, particularly from individuals subject to Force Sell due to significant price drops in the preceding day, which a large number of sold shares could be from some particular shareholders.
  • SABUY Technology’s Statement: SABUY Technology clarified that there were no business developments influencing its stock price, as indicated in the information released via the Stock Exchange of Thailand’s information system on April 4 at 12:31 PM.
  • Limited Short Selling Proportions: Short selling was minimal on April 4 and was mainly from individuals subject to Force Sell, with no short selling listed in the morning session. On April 3, short selling constituted only 0.20% of the total trading volume and was solely carried out by individual investors.

Therefore, the Stock Exchange of Thailand urges investors to carefully consider both trading activity data and information from SABUY Technology before making investment decisions.