TRUE shares tumbled 3.62% to close at 13.30 baht, with trading value exceeding 7.1 billion baht, following news that China Mobile might sell its 7.81% stake. However, the company clarified that China Mobile has no intention of selling its entire holding and is considering selling no more than 1% for normal portfolio management, while reaffirming it will remain a long-term shareholder. On fundamentals, TRUE reported first-half net profit of 13.1 billion baht, up nearly fourfold from a year earlier, and second-quarter profit of 6.6 billion baht, marking its sixth consecutive quarter of profit. Meanwhile, leverage fell to 3.7 times. Management lowered its 2026 service revenue growth target to 1-2% from 2-3%, but maintained its EBITDA growth target of 7-9%, reflecting a shift toward efficiency-driven growth. Krungsri Securities maintained a buy rating with a target price of 19 baht, viewing that core profit hit a new record high and there is potential for upward earnings estimate revisions.
True Corporation Public Company LimitedChina Mobile may sell up to 1% stake, causing share price plunge despite clarification.
China Mobile LimitedChina Mobile considering selling up to 1% stake for portfolio management, but reaffirms long-term holding.
