STOCKS NEWS THAILAND-BTS at 6-year high on infrastructure fund listing
Shares in Bangkok SkyTrain operator BTS Group Holdings Pcl climbed to their highest since late 2006 as its plan to raise capital by listing an infrastructure fund would support future expansion and improve its long-term earnings outlook.
BTS Group shares were up 3.3 percent at 9.4 baht, climbing at one point to 9.45 baht. It was among the top actively-traded stocks with about 144 million shares changing hands.
Broker DBS Vickers Securities rated the stock a 'buy' and raised its price target to 11.28 baht, reflecting gains from the listing and expectations of high dividend income from the fund.
"Other than profits and dividend returns, BTS can as well use the fund raised to support expansions and long-term profitability," it said.
1114 (0414 GMT)
(Reporting by Viparat Jantraprap in Bangkok; Editing by Sunil Nair)
- Alabama man gets $1,000 in police settlement, his lawyers get $459,000
- Two killed, four wounded in Washington state school shooting
- Two U.S. states to quarantine health workers returning from Ebola zones |
- NYC police say hatchet attack by Islam convert was terrorism |
- 'We won't pay,' furious Cameron tells EU over surprise bill |