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

holds 100% of shares) Seller : LHP (a subsidiary that LH holds 60% of shares) 2. Date of Transaction : 1 September 2019 3. Number of Shares : 99,997 shares or 99.997% of paid-up capital of LHH 4. Price

3 POLICY & PROCEDURE SocialEnvironment Governance Sustainable Development Policy ▪ CG Policy ▪ Business ethics manual ▪ Anti-corruption ▪ Vendor Code of Conduct ▪ Tax policy ▪ Human rights Policy o

New Ordinary Shares Seller Fruity Dry Company Limited (“FD”) Purchaser Global Consumer Public Company Limited (“GLOCON”) Number of Shares 255,000 Shares (51 percent of the registered and paid-up capital

Suwanyos by 122,266,665 shares and from Mr. Tanapoom Panyaprukchot by 8,500,000 shares (“Seller Group”). The Seller Group has no relationship with management, directors, major shareholders, and controller of

by 8,500,000 shares (“Seller Group”). The Seller Group has no relationship with management, directors, major shareholders, and controller of the Company and its subsidiaries. Ferrum Energy shall

and relationships between the parties Acquisition of Associate Company’s ordinary shares Seller Skywell (Thailand) Co., Ltd. (Associate Company) Purchaser Rich Asia Corporation Company Limited 3

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

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