Thailand Stocks: CP All, Grande Asset, Sahaviriya Steel, Samart
Thailand’s SET Index fell 2.53, or 0.3 percent, to 1,019.46 at the 4:30 p.m. close. The gauge gained 1.5 percent in the previous four days.
CP All Pcl (CPALL TB), Thailand’s biggest convenience store operator, climbed 1.9 percent to 40.25 baht, the largest increase since Dec. 1. The company expects revenue to rise 15 percent in 2011 as it expands outlets and consumer spending increases, Kao Hoon reported, citing Kriengchai Boonpoapichart, head of finance and investor relations. The company plans to open about 500 new convenience stores in 2011, the newspaper said. Kriengchai wasn’t available for comment after a call to his office.
Grande Asset Hotels & Property Pcl (GRAND TB), a hotel operator and property developer, surged 21 percent to 3.82 baht, completing a four-day, 132 percent rally. Grande Asset said on Dec. 22 that Metro Premier Holdings Co. Ltd. bought a 70 percent stake in the company and offered to buy the remaining shares for 0.57 baht apiece.
Sahaviriya Steel Industries Pcl (SSI TB), Thailand’s biggest steelmaker, dropped 2.1 percent to 1.43 baht, the most since Nov. 17. The company plans to raise at least 6.29 billion baht ($208 million) by selling stock to help fund overseas acquisitions. The company plans to sell 2.62 billion shares in a rights offer at between 1.20 baht and 1.40 baht a share, it said in a statement to the Thai stock exchange today. It will offer another 2.62 billion shares in a private placement at a price of at least 1.20 baht a share.
Samart Corp. Pcl (SAMART TB), a provider of telecommunication services, rose 3.6 percent to 8.65 baht, the highest close since Dec. 16. The company will pay a cash dividend of 0.15 baht a share.
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