Stark Corporation is poised to be delisted from the Stock Exchange of Thailand (SET) due to its negative shareholders’ equity, while the Securities and Exchange Commission (SEC) is vowing to take legal action against those involved in preparing the company’s faulty financial statements.
Stark submitted the audited 2022 financial statement to the SET on June 16, which showed its shareholders’ equity of 2021 and 2022 was negative, at nearly 2.9 billion baht and 4.4 billion baht, respectively, the bourse said in a statement on Monday.
“Stark’s securities are subject to possible delisting because of its negative equity from June 19 onwards,” said the statement, adding that Stark must disclose its process for eliminating the grounds for delisting due to negative equity, including the…
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