Thailand’s Equity Movers: Indorama Ventures, TMB Bank

Shares of the following companies had unusual moves in Thailand trading. (SET) Stock symbols are in parentheses and prices are as of the 4:30 p.m. close in Bangkok.

The SET Index fell 0.5 percent to 1,037.37, paring this week’s gain to 0.3 percent.

Indorama Ventures Pcl (IVL) , Thailand’s largest maker of polyester and plastic packaging material, rose 0.8 percent to 30.5 baht, a one-week high. The company said in a statement that it established a subsidiary in the Netherlands to hold its acquisition in Wellman International.

TMB Bank Pcl (TMB) , a Thai lender controlled by ING Groep NV, fell 1.2 percent to 1.64 baht, reversing an earlier gain of 3 percent. Korea Development Bank spokesman Park Chan Ho denied a report in the Kao Hoon newspaper today that the Seoul- based bank may buy a stake in TMB.

To contact the reporters on this story: Tony Jordan in Bangkok at tjordan3@bloomberg.net; Ian Sayson in Manila at isayson@bloomberg.net

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

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