ECF surges on listing — Shares of East Coast Furnitech (ECF), which began trade on the mai yesterday, doubled from their IPO price, surging 101.67% to close the day at Bt2.42 in trade worth Bt837.65mn. (Bangkok Post, 27/03/13)
Comment: No comment. Ok no i will, ECF IPO’ed @ about THB 600 mn mkt cap, of which some 20% was floated…so thats THB 120 mn of liquidity available in the market. As we’ve seen with every “small” IPO this year it doubles on the first day, enticing more and more retail investors in the market. And while I’m sure the company makes a lovely product etc etc, to make a stock double on the first day by 100% when there’s only THB 120 mn worth of shares is honestly not that difficult. Just be wary if you ever want to chase these things.
InTouch plans six joint ventures this year — INTUCH says it will enter into joint ventures with six companies this year. INTUCH, through its venture capital arm InVent, last September signed its first deal by acquiring a 25% stake in digital publication firm Ookbee for Bt57.8mn. The diversification is part of the group’s strategy to reduce its heavy reliance on the telecom business. (Bangkok Post, 27/03/13)
Comment: We think INTUCH will benefit the most from this digital satelitte change, they are the only company with the balance sheet capable of bidding across the board Continue reading Stocks in the news (efc, intuch, lpn, ptt, ssc, ssi) – 27.03.13