Thailand Stocks: Advanced Info, Sri Trang, True, Thai Carbon
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 in Bangkok.
The SET Index fell 4.41, or 0.5 percent, to 959.69.
Phone companies: Advanced Info Service Pcl (ADVANC TB), Thailand’s biggest mobile phone company, declined 1.3 percent to 79 baht, the lowest since June 4. Total Access Communication Pcl (DTAC TB), the second largest, dropped 0.6 percent to 40 baht, the lowest close since Oct. 8. True Corp. (TRUE TB) lost 3.9 percent to 6.25 baht. TT&T Pcl (TTNT TB) fell 3.1 percent to 0.31 baht.
Thai state-run phone company TOT Pcl plans to seek 214.7 billion baht ($7 billion) in compensation, mostly from four private businesses, for unpaid access charges and contract changes made during previous governments.
TOT will seek 76.4 billion baht from Advanced Info, 97 billion baht from Total Access, 36.4 billion baht from True Corp. and 700 million baht from TT&T, according to the statement.
Sri Trang Agro-Industry Pcl (STA TB), Thailand’s biggest listed rubber producer, dropped 2.3 percent to 32.25 baht, extending yesterday’s 5.7 percent slide. The company’s shares started trading on Singapore’s stock exchange yesterday after an initial offering raised S$336 million ($261 million) from the sale of 280 million shares at S$1.20 each. The share sale was 0.81 times subscribed.
Thai Carbon Black Pcl (TCB TB), a manufacturer of products used to make tires, gained 3.8 percent to 34 baht, the largest increase since Nov. 10. India’s Adiya Birla Group, which controls Thai Carbon, said yesterday the Thai company and its two other units will acquire Columbian Chemicals Co., a U.S. carbon black manufacturer, for $875 million.
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