Big-lot transactions drive up Bangkok Bank shares, drive down TUF
Foreign investors engaged in big-lot transactions of two big caps, chasing up the share price of Bangkok Bank while dragging down that of Thai Union Frozen Products (TUF) to a two-month low.
BBL closed at Bt196 yesterday, up Bt3.50 or 1.82 per cent, on busy turnover of 20.88 million shares yesterday, given a big-lot transaction of 10.29 million shares at Bt195.11 per share for a total of Bt2 billion.
TUF dropped after 14 big-lot sale transactions of 42.53 million shares at Bt69 a share on average, below the price on board, for a total of Bt2.93 billion. The lowest price was Bt69.25, the lowest in two months. It closed the day at Bt71.00, down Bt1.00 or 1.39 per cent
Securities analysts expected it was Standard Chartered Private Equity Ltd that took the big-lot sales, since the company asked on October 10 for a conversion of 60 million euro convertible bonds into 45.36 million ordinary TUF shares for about Bt2.4 billion.
A Trinity Securities analyst said the TUF price fell partly because of fluctuations in the tuna price that affected purchase orders.
The tuna price jumped to US$1,800 per tonne early in the third quarter and dropped to $1,280 late in the same quarter.
According to the Stock Exchange of Thailand, the exchange accepted 45.36 million capital increase shares of TUF, which were converted by Standard Chartered Private Equity Ltd from its convertible bonds at Bt52.91 a share.
The BBL price was bullish yesterday when investors traded the stock on the Non-Voting Depository Receipts board as usual after Thai NDVRs reversed their cautious investment policy on banking stocks imposed earlier. Analysts expect positive sentiment on the stock’s liquidity.
