January 2, 2013 / 4:01 AM / in 5 years

STOCKS NEWS THAILAND-Thaicom up in strong trade after capacity sale deal

Shares in Thaicom Pcl jumped 5.6 percent to 24.4 baht, having hit a two-week high of 24.9 baht, after the satellite operator said its subsidiary had entered into an agreement to sell satellite capacity in China.

About 13.3 million shares have changed hands, 1.27 times the average full-day volume in the last 30 days. The broader tech subindex was up 0.4 percent while the benchmark SET index was up 0.9 percent.

Thaicom’s unit IPSTAR Co Ltd had agreed to sell whole China capacity to Vastsuccess Holdings Ltd, a subsidiary of Synertone Communication Corp, and had agreed to grant the right to use gateways in China to Vast until end of service period of Thaicom 4 Satellite. 1047 (0347 GMT) (Reporting by Viparat Jantraprap in Bangkok; Editing by Anand Basu)

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