Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Siam Makro Rises to Record on Share Sale Report: Bangkok Mover

Don't Miss Out —
Follow us on:

April 1 (Bloomberg) -- Siam Makro Pcl rose to a record in Bangkok trading after the Prachachat newspaper reported its parent SHV Holdings NV plans to sell its entire stake in Thailand’s biggest cash-and-carry wholesaler.

The company jumped 6.4 percent to 566 baht at the close, the highest level since the stock debuted in 1994. The stock was the second-best performer in the MSCI Emerging Markets Index, which dropped 0.3 percent.

SHV, a closely held Dutch energy company, hired advisers and aims to complete the sale of its holding in Bangkok-based Siam Makro by the end of this year, the Thai-language Prachachat said on its website, without saying where it obtained the information. Several retailers in Thailand are interested in buying Siam Makro’s stake, the report said.

“There is a chance that SHV is looking to sell its stake in Siam Makro,” Sureeporn Teewasuwet, an analyst at Finansia Syrus Securities Pcl, said by phone from Bangkok today. “Still, investors should be cautious because there is some uncertainty on this sale. Siam Makro’s current valuation is very expensive.”

Suchada Ithijarukul, chief executive officer of Siam Makro, wasn’t available for comment when called at her office. Calls made on a public holiday to the SHV Holdings office in Utrecht, the Netherlands, weren’t answered.

Siam Makro trades at about 32 times estimated 12-month earnings, according to a data compiled by Bloomberg. Big C Supercenter Pcl, the nation’s second-biggest operator of hypermarket stores, has a multiple of 24 and the SET Index trades at about 14 times estimated earnings. Siam Makro’s profit jumped 37 percent to 3.56 billion baht in 2012.

SHV’s unit and an affiliate held about 64 percent of Siam Makro as of March 2012, according to data on Siam Makro’s website.

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

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.