Thailand Stocks: Indorama, Jaymart, PTT Exploration, Rayong

Shares of the following companies had unusual moves in Thailand trading. Stock symbols are in parentheses and prices are at the close in Bangkok.

The SET Index rose 1.4 percent to 1,116.08, the highest close since Aug. 4.

Indorama Ventures Pcl (IVL TB), Thailand’s largest polyester producer, jumped 10 percent to 38.25 baht, the most since Oct. 6. Indorama agreed to buy the ethylene-producing units of Texas-based Old World Industries Ltd. for $795 million, the company said yesterday.

Jaymart Pcl (JMART TB), an operator of mobile-phone handset shops, slid 7.1 percent to 7.15 baht, the largest drop since Oct. 3. Investors buying the stock today aren’t entitled to new warrants, which allow investors to buy shares at 3 baht each, according to a statement on Jan. 30.

PTT Exploration & Production Pcl (PTTEP TB), Thailand’s only publicly traded oil explorer, increased 3.1 percent to 182 baht, the highest close since Aug. 2. The company plans to sign an agreement with Myanmar in the next two months to explore for oil and gas in the Block G and Block EP2 concession areas, Asdakorn Limpiti, the company’s executive vice president, said yesterday.

Rayong Purifier Pcl (RPC TB), a fuel producer, dropped 4 percent to 1.94 baht, the lowest close since Oct. 5. The company shut down a plant after PTT Pcl stopped supplying raw materials, it said in a regulatory filing.

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