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PTT Plc Shares Fuel Massive Turnover.
Byline: Krissana Parnsoonthorn
Dec. 7--Shares of PTT Plc dominated the market yesterday on their first day of trade, rising 2.14 percent in price and helping push market turnover to an 11-month high.
PTT opened at 38 baht, three baht higher than its initial public offering price, and reached a high for the day at 38.25. Profit-taking in the afternoon capped gains, and the stock ended the day at 35.75 baht in turnover worth 6.37 billion baht.
With PTT shares representing nearly 8 percent of total market capitalisation, gains lifted the Stock Exchange of Thailand index by 1.44 points to 305.25 in turnover worth 19.53 billion baht.
Leading trade were energy shares, which fell by 1.88 percent, while the finance sector rose by 3.06 percent, banking by 0.94 percent and property by 1.52 percent.
SET president Kittirat Na Ranong said PTT yesterday posted the highest turnover recorded for a single stock in one day.
PTT was a good model for other state enterprises in preparing their own plans to list on the market, he said.
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