Thailand's Securities and Exchange Commission (SEC) is conducting an in-depth review of a regulatory filing by Supaporn Pimpong, who reported an acquisition of True Corporation shares, bringing her total reported holding to 7.0992% of the company's voting rights. This stake, valued at approximately 32 billion baht (nearly $1.3 billion), would make her one of True Corp.'s largest shareholders, yet Supaporn Pimpong lacks a significant public profile. The SEC's scrutiny intensified after True Corp. questioned the accuracy of the filing, particularly the claim that part of the holding was in preferred shares, which True Corp. asserts it has never issued to the public or has outstanding.
The investigation was prompted by concerns raised by True Corp. and the unexpected nature of such a large acquisition by an individual unknown in major financial circles. The SEC has stated it will seek additional information and clarification from all relevant parties and has warned of strict legal actions if any breaches of applicable regulations are found. Preliminary checks by the SEC confirmed that the filer was registered and personal information was verified against the civil registration database, indicating the filing followed established system processes.
This incident has also brought attention to other filings under Supaporn Pimpong's name, which reportedly showed significant holdings in several other major listed companies, including MAJOR (9.99%), GJS (reportedly around 48% after various acquisitions), BBL (5.0122%), AAV (5.33% in convertible securities), and KBANK (5.1097%). These previous filings have led to broader questions within the market regarding the source of these holdings, their structure, and the overall accuracy of reported data versus company records. The SEC's review aims to provide clarity on these discrepancies and assess the integrity of the regulatory reporting system.
