On July 2, 2026, Ms. Supaporn Pimphong submitted a Form 246-2 to the Office of the Securities and Exchange Commission (SEC), notifying that she had acquired approximately 1.111 billion shares of True Corporation Public Company Limited (SET: TRUE) on June 15, 2026, representing a 3.2174% stake in the company. Following this transaction, Ms. Supaporn’s total shareholding in TRUE amounted to roughly 2.451 billion shares, or 7.0992% of the company’s paid-up shares.
This disclosure has generated significant interest among investors and within capital market circles, primarily due to the substantial value of Ms. Supaporn’s investment—exceeding 30 billion baht—and widespread inquiries regarding her investment background, business activities, professional credentials, and family history. TRUE is considered a large-cap stock and a leading company in Southeast Asia, making individual ownership of such a sizable stake highly unusual.
A recent document, believed to have been sent via the investor relations (IR) department of TRUE, was circulated to multiple brokerage firms and asset management companies. The correspondence addressed the matter involving Ms. Supaporn, referencing the SEC filing dated July 2, 2026, and acknowledged that after further review and escalation to the SEC, the submitted report is currently marked as a “Preliminary Version,” indicating the information is still under verification.
TRUE stated it has reasons to believe that the information reported may contain discrepancies or errors. The company affirmed that it would update stakeholders after the SEC’s review process has been concluded.
Additionally, TRUE reiterated that the company’s business fundamentals remain strong and unchanged, expressing gratitude to all supporters and stakeholders for their continued confidence.
Meanwhile, two sources familiar with the matter who received the company’s email noted that they were unclear why the IR department was the initial responder to an issue that principally concerns shareholder activities and not the company itself. They emphasized that this matter is essentially between the buyer and seller, rather than directly involving TRUE.
Nevertheless, the sources indicated that they would closely monitor developments regarding the case. They agreed with TRUE’s suggestion that the Form 246-2 report may have inaccuracies and anticipated a swift resolution. Both sources reaffirmed their positive outlook on TRUE’s business fundamentals, maintaining that the incident has not had any fundamental impact on the company at this stage.
