Bloomberg News

Thailand’s Equity Movers: Shin Corp., Thai Reinsurance

January 23, 2012

Jan. 23 (Bloomberg) -- Shares of the following companies had unusual moves in Thailand trading. Stock symbols are in parentheses and prices are as of the close in Bangkok.

The SET Index rose 0.4 percent to 1,062.55, the highest close since Sept. 8.

Shin Corp. Pcl (INTUCH TB), a telecommunication holding company, climbed for a sixth day, advancing 1.6 percent to 46.75 baht, the highest since March 2006. Cedar Holdings Ltd., a unit of Temasek, sold 200 million shares, or a 6.2 percent stake in the company, Shin said in a filing on Jan. 19. The share sale has reduced liquidity risk and boosted investor interest in Shin’s shares, Athaporn ArayaSantiparb, an analyst at UOB-Kay Hian Securities (Thailand) Pcl in Bangkok, said by phone today.

Thai Reinsurance Pcl (THRE TB), a reinsurer, jumped 7.2 percent to 3.58 baht, the highest level since Dec. 29. Proceeds from a share sale will help strengthen the company’s financial position after flood-related losses, Thai Reinsurance said in a regulatory filing today. The company reiterated a plan to raise as much as 6.98 billion baht ($222 million) by selling shares to Canada’s Fairfax Financial Holdings Ltd. and existing investors.

--Editors: Ravil Shirodkar, Tony Jordan

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

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net


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