Stocks in the news (cpf, pttep, true, pace) 26.07.13

CPF plans acquisitions of two Russian companies , approves joint venture : Charoen Pokphand Foods (CPF) hopes to expand its exports through the acquisition by CPF Investment (CPFI) of two Russian companies – Russia Baltic Pork Invest ASA (RBPI) and Penza Food – for a combined equity investment of Bt4.3 billion. CPF will acquire an equity stake not exceeding 83 per cent for not more than Euro76.8 million(Bt3.15 billion).
Comment: We’re starting to joke internally that cp group loves to borrow money to expand

Pace appoints Asia Plus as lead underwriter for IPO : Pace Development Corporation, the developer of the Bt12-billion MahaNakhon mixed-use project in Bangkok, has appointed Asia Plus Securities as the lead underwriter for its initial public offering.
Comment: Well, I’ve called this a white elephant project for the longest time, we know brokers are having an incredible difficult time place the shares (even to the point that if clients want shares in mk suki that they have to first buy shares pace) and we aren’t surprised, there’s nothing really to back this company, and if it can’t raise enough equity then I think the company arguably struggle to continue.

PTTEP announces Bt3 dividend as Q2 net jumps 44.4% to Bt10.6 bn : PTT Exploration and Production Plc’s board of directors yesterday declared an interim dividend of Bt3 per share payable on August 23.

TrueMove bids to keep 17m clients after concession : Licence application ‘likely to be denied’. TRUEMOVE has applied for a licence from the National Broadcasting and Telecommunications Commission (NBTC) as part of its intention to continue to serve all its existing 17 million-plus subscribers after its concession ends on September 15, according to an NBTC high-ranking executive

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