Bourse urges investor caution on MORE shares

The Stock Exchange of Thailand (SET) has issued a warning to investors, urging them to consider attending the special general meeting (AGM) of More Return Plc (MORE) today, while thoroughly reviewing the proposed capital increase of 30% of the company’s capital.

- NUNTAWUN POLKUAMDEE

This comes as the high profile stock manipulation involving MORE remains under investigation by the Department of Special Investigation, with multiple individuals implicated.

According to the SET, MORE’s board proposed a capital increase by offering 2.213 billion shares, or 30% of its paid up capital.

The plan, scheduled for a vote at today’s shareholders’ meeting, is to secure funding for future business operations.

The newly issued shares could be allocated through a rights offering to MORE’s existing shareholders, to specific individuals via private placement, or a public offering.

The SET requested MORE clarify its capital increase plan and provide details on how it intends to protect shareholders’ rights, the bourse said in a statement.