Thailand's Grande Asset Shares Extend Rally on Shareholder's Tender Offer

Grande Asset Hotels & Property Pcl, a Thai hotel operator and property developer, rose for a fifth day to its highest level in more than two years in Bangkok trading after Metro Premier Holding Co. offered to buy the shares it doesn’t own in the company.

The stock jumped 25 percent to 3.94 baht as of 10:06 a.m. local time, poised for its highest close since July 2008 and extending its five-day advance to 154 percent.

Grand Asset said on Dec. 22 that Metro Premier bought a 70 percent stake in the company and offered to buy the remaining shares for 0.57 baht apiece.

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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