EA Drops 4% amid Concerns over Major Shareholder Cutting Stakes

On Thursday at 11:47 AM (Bangkok time), the share price of Energy Absolute Public Company Limited (SET: EA) decreased by 4.33% or THB 1.00 to THB 22.10, with a trading value of THB 816.92 million.

Krungsri Securities (KSS) stated that power plant stocks, including GULF, EA, and GPSC, were pressured by the weakening baht following the rise of the 10-year US bond yield as the US economy remained strong.

Investors were still concerned about EA after the Securities and Exchange Commission (SEC) announced the report on the adjustment of the director’s shareholding, as Mr. Amorn Sapthaweekul, Director of EA and the 7th major shareholder of the company, sold off 6.2 million EA shares during 23-24 May 2024, at a price of THB 24.07, THB 23.78, THB 23.81, and THB 23.73.

Meanwhile, Mr. Amorn also purchased 1 million EA shares on 24 May 2024, at a price of THB 23.80.