The Stock Exchange of Thailand (SET) is investigating unusual trading of Seamico Capital Plc (ZMICO) securities after issuing its highest-level trading control warning in mid-March that failed to stabilise the company’s share price volatility, according to an industry source who requested anonymity.
The level 3 warning was issued March 18 due to dramatic increases in the company’s share price despite the fact the company reported it had not announced any investment plans and its fundamentals remained unchanged.
As part of the order, brokers must require buyers to place 100% cash down before purchasing shares in ZMICO and are not allowed to offset the buying and selling of shares on the same day.
From the SET’s records on the trading activities of ZMICO shares, it was found that the share movements deviated greatly from the…
