To break or not to break: Evidence from price discovery process of Thai stocks during the pre-opening of each trading session To break or not to break Evidence from price discovery process of Thai

facts about the types of stocks they hold and the positive relationship between past returns and the ability to attract new investment capital, which we build on in the second and third essays. The second

= 4.65 % 5. Details assets 5.1 Shareholder Structure in N Hospital Co.,Ltd Prior to Transaction 1. World Corporation Public Company Limited Numbers of stocks held 2,549,745 shares 33.33 % 2. Green Estate

of both sides to ensure that used PET plastic bottles that is 100% recyclable, and therefore not “single-use”—will be collected, processed, and used again and again within a circular economy. It will

Circular 54/F, One Island East, 18 Westlands Road, Quarry Bay, Hong Kong 香港鰂魚涌華蘭路 18 號港島東中心 54 樓 +852 2231 1222 www.sfc.hk Page 1 of 17 15 November 2022 Mutual Recognition of Funds (MRF) between

Green Avenue company limited = 9.29 % 5. Details assets 5.1 Shareholder Structure in N Hospital Co.,Ltd Prior to Transaction 1. Green Estate Chiangmai company limited Numbers of stocks held 1,490,625

Estate Chiangmai company limited Numbers of stocks held 1,490,625 shares 19.49 % 2. Green Avenue company limited Numbers of stocks held 659,225 shares 8.62 % 3. Mr. Kritsada Tunpow Numbers of stocks held

(“HK-TH MRF MoU”); (ii) the Circular on Mutual Recognition of Funds between Thailand and Hong Kong issued by the SFC on 20 January 2021, as amended from time to time (“SFC Circular”); and (iii) the

PPG products caused we cannot bid for any projects , and we have to set up provision for obsoleted raw materials and stocks. Please be informed. Yours Sincerely, Panya Boonyapiwat Chairman

funds effectively act as de facto indexers, delivering returns that are very similar to the market. 3. The majority of capital is allocated to stocks with large market capitalization, and growth stocks