TPL.BK▼4
SEC Fines 4 Individuals 20.29 Million Baht for Manipulating TPL Share Price
The Securities and Exchange Commission (SEC) has revealed civil enforcement actions against four individuals for jointly manipulating the price or trading volume of Thai Parcel Public Company Limited (TPL) shares. The SEC has ordered them to pay a total of 20,293,332 baht, along with trading bans and prohibitions on serving as directors or executives. The SEC found that on June 30, 2023, the first day TPL shares were listed on the stock exchange, the four offenders—Orn-orn Akkaraseranee, Phakawan Wong-ophasee, Arissa Singsom, and Kanchanarat Wongphan—who are connected, jointly placed high-priced and large-volume buy orders before the market opened, causing the opening price to be higher than the IPO price. They also engaged in matched trades to encourage other investors to buy. Orn-orn was fined and ordered to pay costs totaling 18,535,833 baht, with an 11-month trading ban and a 22-month ban on serving as a director. Phakawan was fined 585,833 baht, with an 8-month trading ban and a 16-month ban on serving as a director. Arissa and Kanchanarat were each fined 585,833 baht, with 6-month trading bans and 12-month bans on serving as directors. These actions constitute the offense of jointly manipulating securities prices under Section 244/3 (1) (2) and Section 244/5 of the Securities and Exchange Act B.E. 2535.