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Price of Bangchak Petroleum Disappoints Investors.
Feb. 6--The debut of Bangchak Petroleum's depository receipts (DRs) yesterday disappointed most investors and company executives, who had anticipated a better price given the upturn in Thailand's oil industry.
The receipts, traded under the symbol BCP-DR1, opened on the Stock Exchange of Thailand (SET) at 19.40 baht, 6.40 baht higher than the subscription price of 13 baht, taking their cue from yesterday's closing price of Bangchak's common shares (BCP) at 19.90 baht.
After hovering between a high of 19.70 and a low of 17.90 baht, they closed the day at 18.30 baht.
Acting president Pichai Chunhavajira said the price of BCP-DR1, issued as part ...
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Source: HighBeam Research, Price of Bangchak Petroleum Disappoints Investors.