Thailand Stocks: Kasikornbank, Pico, PTT, PTT Exploration

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

The SET Index (SET) rose 2.8 percent to 1,158.07, the biggest gain in seven months.

Kasikornbank Pcl (KBANK) , Thailand’s fourth-largest bank by total assets, rose 4.3 percent to 157 baht, the biggest gain since April 30. The lender led a group including Industrial & Commercial Bank of China (Thai) and Land & Houses Bank that will provide 2.46 billion baht ($78 million) of loans to Electricity Generating Pcl to fund solar power projects.

Pico (Thailand) Pcl (PICO) , an event-management company, rose 2.5 percent to 3.24 baht, its biggest gain in almost three weeks. The company will pay a cash dividend of 0.1 baht per share for the six months ended April 30, it said in a statement today.

PTT Exploration & Production Pcl (PTTEP) , the nation’s biggest publicly listed explorer, rose 4.7 percent to 168 baht, its largest increase in six months. Cove Energy Plc, the U.K. explorer that agreed to be bought by PTT Exploration, said it found more gas at the Rovuma Area 1 exploration block off the coast of Mozambique. Shares of parent company PTT Pcl (PTT) jumped 3.6 percent to 320 baht.

To contact the reporter on this story: Tony Jordan in Bangkok at tjordan3@bloomberg.net

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

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