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Thailand Stocks: Indorama Ventures, S. Khonkaen, Thai Union

March 6 (Bloomberg) -- Shares of the following companies had unusual moves in Thailand trading. Stock symbols are in parentheses and prices are as of the close in Bangkok.

The SET Index fell for a second day, declining 0.4 percent to 1,153.16.

Indorama Ventures Pcl (IVL TB), a Thai polyester maker, gained 2.6 percent to 40.25 baht, a second day of gains. The company acquired a factory belonging to PT Polypet Karyapersada in Indonesia, it said in a filing to the stock exchange. The facility has a production capacity of 100,800 metric tons per year, it said. Indorama will also benefit from a 6 percent increase in cotton prices overnight, Maybank Kim Eng Securities (Thailand) Pcl wrote in a report today.

S. Khonkaen Foods Pcl (SORKON TB), a producer of processed meat and sausages, slid 58 percent to 38 baht, a record drop. Investors who buy shares today won’t be entitled to the company’s one-for-two rights offer, the company said in a regulatory filing on Feb. 27.

Thai Union Frozen Products Pcl (TUF TB), Thailand’s biggest seafood exporter, declined 5.8 percent to 65 baht, the most since Oct. 3. The company plans to raise 9.99 billion baht ($325 million) in a rights offer, it said in a regulatory filing today. It will sell 199.9 million new shares to existing shareholders at 50 baht each, it said.

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

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