Thai Union's share closed Monday trading more than three percent lower at THB 18.40 (€0.50/$0.55), a reaction to the news Friday that the chairman and founder of the stock-listed seafood conglomerate and eight others have been ordered to pay steep fines for insider trades that allegedly took place in 2017.
The Thai Securities and Exchange Commission (SEC) said Friday that Kraisorn Chansiri, founder of the $4 billion (€3.6 billion) group, illegally purchased shares in late 2017 based on insider information about the group's third-quarter earnings, which rose sharply from the second quarter and the third quarter of the prior year.
