March 18, 2013 / 4:36 AM / 4 years ago

STOCKS NEWS THAILAND-BTS at 6-year high on infrastructure fund listing

1 Min Read

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

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