Thailand Stock Movers: Big C Supercenter, CP All, PTT Global
The SET Index (SET) rose for a seventh day, climbing 0.2 percent to 1,241.84. The gauge is headed for the highest close since July 1996.
Big C Supercenter Pcl (BIGC) , Thailand’s second-biggest operator of hypermarket stores, jumped 7.4 percent to 210 baht, on course for a record close. Big C raised about 4.2 billion baht ($136 million) by selling 23.6 million new shares at 176 baht each in a private placement, it said in an e-mailed statement. Investors sought more than four times the number of shares offered, it said.
CP All Pcl (CPALL) , the country’s largest convenience store operator, surged 10 percent to 41.50 baht, bound for a record close. The company’s revenue may climb as much as 15 percent in 2012 on new stores and higher domestic consumption, Kriengchai Boonpoapichart, the head of finance and investor relations, said by phone from Bangkok today.
PTT Global Chemical Pcl (PTTGC) , the nation’s largest petrochemical producer, climbed 1.4 percent to 72 baht, poised for the highest close since March 29. The company was upgraded to outperform, the equivalent of buy, from neutral by Paworamon Suvarnatemee, an analyst at Credit Suisse Group AG. The company should benefit from rising oil prices and a recovery in the spread between high density polyethylene and naphtha, the analyst wrote in a May 2 note.
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