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Byline: Nuntawun Polkuamdee
Feb. 5--Shares of Picnic Gas and Chemicals Plc, known for its Picnic gas brand, yesterday closed trade on the Stock Exchange of Thailand at 29.5 baht, more than 2000 percent up on its last trading price.
Picnic, previously known as Union Gas and Chemicals, entered the SET through a back-door listing following the takeover of BGES Engineering Systems, an engineering contractor.
BGES, in the Rehabco sector, last traded at 1.30 baht per share in June 2001. The SET said that Picnic shares would be allowed to resume trade after the successful restructuring of its debt.
The rehabilitation plan included a capital ...