JKN shares almost fell to the floor. Default of debt payment 609 million baht

This morning (August 31, 2023), JKN Global Group Public Company Limited or JKN has informed the Stock Exchange of Thailand. that the company is unable to pay off the JKN239A debentures on schedule, that is, by September 1, 2023.

As a result, investors sold JKN shares until the share price dropped to almost the floor or 29.41%, causing damage worth more than 700 million baht. JKN announced that it would pay some of the principal and interest in the amount of 156 million. baht, resulting in the outstanding balance of 443 million baht.

By the reason why the payer is wrong is because lack of financial liquidity And unable to negotiate with the company’s co-investors, if JKN has a problem of defaulting on debt this time Will make other debentures There was also a default in payment of debts. which will have a total outstanding balance of more than 3,300 million baht