Holders of KGEN-W2 warrants must decide whether to exercise their right to convert into ordinary shares of King Gen Public Company Limited, or KGEN, by 31 July 2026. The exercise ratio is 1 warrant for 1.1413 ordinary shares at an exercise price of 1.7524 baht. Meanwhile, KGEN shares are trading at 1.79 baht on the board, a narrow spread that may cause warrant holders to hesitate. However, those who exercise will receive additional KGEN-W3 warrants at a price of 0.05 baht. Those who do not exercise will lose all value. Investors who believe KGEN will recover from the second quarter of 2026 onwards, and that its stake in the Chery car plant in Rayong will increase from 43% to 60%, have already expressed their intention to exercise.
King Gen PCLWarrant conversion decision with narrow spread; holders may exercise due to potential recovery and increased stake in Chery plant.