Bloomberg News

Thailand Equity Movers: Big C Supercenter, PTT Global Chemical

May 02, 2012

Shares of the following companies had unusual moves in Thailand trading. Stock symbols are in parentheses and prices are as of 10:23 a.m. in Bangkok.

The SET Index (SET) rose for a seventh day, climbing 0.6 percent to 1,246.67. The gauge is headed for the highest close since July 1996.

Big C Supercenter Pcl (BIGC) , Thailand’s second-biggest operator of hypermarket stores, rose 2.8 percent to 201 baht, on course for a record close. Big C plans to raise about 4.2 billion baht ($136 million) by selling 23.6 million new shares at 176 baht each in a private placement, it said in an emailed statement. Investors subscribed more than four times of the available shares, it said.

PTT Global Chemical Pcl (PTTGC) , the nation’s largest petrochemical producer, climbed 1.4 percent to 72 baht, on course for the highest close since March 29. The company was upgraded to outperform, the equivalent of buy, from neutral by Paworamon Suvarnatemee, an analyst at Credit Suisse Group AG. The company should benefit from rising oil prices and a recovery in the spread between high density polyethylene and naphtha, the analyst wrote in a May 2 note.

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

To contact the editor responsible for this story: Richard Frost at rfrost4@bloomberg.net


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