Stocks in the news (dna, nyt, pace) 08.08.13

DNA to purchase retail business — DNA is waiting on the approval from its board members today for the acquisition of a retail business, which expects to cost Bt100mn, and also to increase its investment budget for the acquisition of a satellite TV businesses by more than Bt50mn, on top of the Bt300mn budget already set aside. The company said its primary focus is to acquire businesses at this stage. (Khao Hoon, 08/08/13)

NYT Listing before year’s end — NYT is aiming to be listed in 3Q-4Q13 and to sell 205.5mn shares in its IPO. Management is confident in its business fundamentals and expects revenue and profits to grow by 30% this year. (Khao Hoon, 08/08/13)

PACE stumbles out of the gate in IPO – Pace Development Plc (PACE) had the first dismal initial public offering (IPO) debut on the local stock market this year following Ananda Development Plc’s (ANANDA) flop on the first day of trade in July 2012. The stock started trading at Bt3.10 and stayed below the Bt3.50 IPO mark throughout the day before closing at Bt2.70, a 22.9% discount from the IPO price, in trade worth Bt2.38bn. (Bangkok Post, 08/08/13)

Comment: Rubbish IPO

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