Hydrotek Climbs on Thai Water Production, Myanmar Bid Reports
Hydrotek Pcl (HYDRO), a Thai water management company, rose the most in more than eight months in Bangkok trading following a report that it will operate a tap-water production facility in Chiang Mai province and was bidding for projects in Myanmar.
The shares closed 9.6 percent higher at 8.55 baht, the biggest gain since Jan. 17, after the Thai-language Post Today report cited Chief Executive Officer Salib Soongshawang as saying the company had won a 2 billion-baht ($65 million) water contract. It also said the Bangkok-based company was bidding for management projects valued at 500 million baht in Myanmar.
Today’s advance raised the stock’s gain this year to 74 percent. Hydrotek, whose shares trade on the Market for Alternative Investment, last December sold 30 million shares at 3.39 baht each in an initial public offering to expand in water treatment.
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