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STOCKS NEWS THAILAND-Banpu shares jump on share buyback
February 21, 2013 / 3:21 AM / in 5 years

STOCKS NEWS THAILAND-Banpu shares jump on share buyback

Shares in Banpu jumped 3.7 percent to 392 baht after Thailand’s biggest coal miner said it would buy back shares from the market for up to 6.2 billion baht ($208 million).

The main SET index was down 0.5 percent.

Banpu shares have fallen 5.1 percent so far this year, underperforming a 3.7 percent gain in the energy subindex .

Before the market opened, it reported a 57 percent drop in October-December net profit at 1.51 billion baht because weak global demand cut prices. Nine analysts surveyed by Reuters had forecast on average a net profit of 1.6 billion baht.

The company also said it planned an interim dividend of 9 baht per share.

1002 (0302 GMT)

Reporting by Viparat Jantraprap in Bangkok; Editing by Prateek Chatterjee

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