Whenever the name "Sarath Ratanavadi," the chief executive of GULF, appears in reports of securities transactions reported to the Securities and Exchange Commission (SEC),
it invariably draws investors' attention, as he is a major investor with long-standing experience in the energy and infrastructure sectors.
Recently, he signaled strong confidence again by investing more than 372 million baht to purchase 1 million shares of Advanced Info Service Public Company Limited (ADVANC) just days before the stock went XD.
This deal is not just a figure in executive transaction summaries but reflects the perspective of a "large sum" on Thailand's top telecommunications stock at a time when its price has risen steadily throughout the year.
Although the stock price has risen significantly from the year's low and declined immediately after going XD, what stories remain for retail investors to watch? Thairath Money has summarized them.
According to Sarath Ratanavadi's report to the SEC, on 18 August 2025 GMT+7, he purchased 1,000,000 ADVANC shares at an average price of 372 baht per share, totaling 372 million baht.
The purchase was made through Bualuang Securities, just one day before ADVANC's XD date on 19 August 2025 GMT+7. The timing is notable as it is a "last-minute purchase before XD," a technique often used by investors aiming to secure dividend rights.
Although accounting adjustments reduce the share price by the dividend amount on the XD date, for long-term investors seeking steady dividend cash flow, this timing can be considered "worthwhile."
This purchase entitles Sarath to receive interim dividends for 2026 of more than 8.69 million baht, based on the announced dividend rate of 8.69 baht per share, with the XD date on 19 August 2026 GMT+7 and dividend payment scheduled for 3 September 2026 GMT+7.
However, ADVANC’s stock price adjusted downward as expected on the XD date, dropping 10 baht or 2.69% to close at 362 baht. The following day (20 August 2026 GMT+7), it declined another 4 baht or 1.10% to close at 358 baht, indicating the market is digesting the news and naturally adjusting after a large dividend payout.
ADVANC is well known for its "generous" dividend policy. Earlier in 2026, the company declared a second-half 2025 dividend totaling 27.41 baht per share, including 8.41 baht regular dividend and a special dividend of 19 baht, driven by a 54% increase in Q4 2025 net profit compared to the previous year—15% above market expectations.
This is a key reason why ADVANC remains one of the "dividend stocks" favored by institutional and large investors for generating long-term cash flow.
Looking at profitability, ADVANC has demonstrated strong revenue and net profit growth consistently.
Regarding ADVANC’s stock price movement throughout 2026, it is one of the large-cap stocks delivering outstanding returns in the Thai stock market, steadily climbing from around 300 baht early in the year to a peak of 404 baht, before pulling back to trade near 358 baht on 20 August 2026 GMT+7.
Given the significant price increase, is there still value for continued investment? According to the Investment Analysts Association (IAA Consensus), 14 brokerage analysts recommend "buy" from 9 brokers and "hold" from 5, with no "sell" recommendations. The average 2026 price target is 404.81 baht, with a high of 435.00 baht and a low of 355.00 baht.
Asia Plus Securities Research expects ADVANC to accelerate medium-to-long-term growth (2026–2028) through customer-centric strategies, smart platforms such as Smart City Muang Thong Thani, and digital infrastructure including 5G Advanced, Data Centers, and Sovereign Cloud.
The research maintains a 2026 normalized profit forecast of 54 billion baht, up 18% from the previous year, and 59 billion baht in 2027, up 9%. ADVANC is seen as having attractive average growth and steady dividends around 4.6–4.8% annually, helping to mitigate market volatility. The target price for 2027 is 428 baht with a "buy" recommendation.
Yuanta Securities (Thailand) views ADVANC as maintaining market leadership with over 50% share in both mobile and broadband businesses. The company is upgrading its network with 5G Advanced, expanding AIS Cloud services, Quantum-Safe Networks, and partnering to develop Smart City projects and maintain B2B sales.
Short-term challenges include decisions by corporate and SME customers to delay purchases due to rising product and service prices. Overall, analysts remain "neutral" as no significant new factors warrant major earnings upgrades, and the stock price has factored in some positives. The recommendation is "speculative buy" with a year-end 2026 target price of 390 baht.
Read stock and investment news with Thairath Money at
Follow the Facebook page Thairath Money at this link