Large stakes reported in True Corp and other firms don’t match shareholding records
The Securities and Exchange Commission (SEC) says it is investigating filing documentation for share purchases in six Thai companies since 2021 by a mystery investor who last week reported acquiring a 7% stake worth 32 billion baht in True Corporation.The regulator said the purchases of shares in the companies listed on the Stock Exchange of Thailand were made between 2021 and 2025 by an investor it named as Supaporn Pimphong.
Ms Supaporn’s stake in True has since dropped to 3.69%, which makes her the telecom company’s sixth-largest shareholder, according to LSEG data.
The SEC said the Form 246-2 shareholding disclosures submitted by Ms Supaporn were found to be inconsistent with shareholder records.
The case has attracted widespread attention from market observers who have raised concerns about the self-declaration disclosure system, which allows investors to report significant share acquisitions before regulators verify the information.
