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STOCKS NEWS THAILAND-Siam Global at record high after private offering
Shares in Siam Global House Pcl hit their all-time high after the building material distributor planned to sell new shares in a private offering to Siam Cement group at a 3.7 percent premium to Friday's close.
Siam Global shares were up 2.2 percent at 13.8 baht, rising at one point to 13.90 baht -- their highest. The private offering is priced at 14 baht per share. Siam Cement shares were unchanged at 331 baht while the broader stock market was up 0.17 percent.
Siam Cement Group would launch a partial tender offer for Siam Global shares following the share acquisition.
Siam Cement's strong network in the building material business was supportive to Siam Global's growth outlook, broker DBS Vickers Securities said in a report. It rated the stock at 'buy' with target price of 15.1 baht.
1138 (0438 GMT) (Reporting by Viparat Jantraprap in Bangkok; firstname.lastname@example.org)
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