Bloomberg News

Navanakorn Shares Drop to 19-Month Low After Floodwaters Rise

October 17, 2011

Oct. 17 (Bloomberg) -- Navanakorn Pcl, a Thai developer of industrial land, dropped to the lowest level in 19 months in Bangkok trading after floodwaters at its industrial complex rose.

The shares slid 6.5 percent to 1.30 baht as of 3:11 a.m. local time, set for the lowest close since March 11, 2010.

The government ordered the evacuation of people in the Navanakorn industrial zone in Pathum Thani on the outskirts of Bangkok today because of the flooding, Wim Roongwatanachinda, a spokesman for the national flood center, said on the state television network today.

To contact the reporter on this story: Anuchit Nguyen in Bangkok at anguyen@bloomberg.net

To contact the editor responsible for this story: Tony Jordan at tjordan3@bloomberg.net


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