Reuters: Hot Stocks: STOCKS NEWS THAILAND-Raimon Land falls after private offering

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STOCKS NEWS THAILAND-Raimon Land falls after private offering Apr 27th 2012, 03:40 Thu Apr 26, 2012 11:40pm EDT Raimon Land Pcl dropped to its lowest in more than a week after the property developer offered 325 million shares in private offering to two mutual funds at price lower than the prevailing market price. The shares were offered to the investors at 1.4058 baht ($0.05) each, it said in an announcement early on Friday, compared with Thursday's close of 1.86 baht. Its shares dropped 4.8 percent to 1.77 baht, underperforming the broader market which was up 0.03 percent. For the company statement, click 1023 (0323 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ************************************************* 09:53 STOCKS NEWS THAILAND-Thanachart cuts target price on Siam Cement Thanachart Securities cut its target price on Siam Cement Pcl SCC.BK, Thailand's biggest industrial conglomerate, to 410 baht ($13.28) from 427 baht ($13.83), reflecting weak first quarter earnings and lower earnings forecast for the full year. The brokerage maintained its buy rating on the stock. "We believe first quarter is the trough and expect results to improve sequentially supported by higher chemical spreads and contribution from associates," the broker said in a research note. On Thursday, Siam Cement shares gained 2.4 percent, to 342 baht, putting them up 9.3 percent for the year. For a related company statement and story, click 0941 (0241 GMT) (Reporting by Viparat Jantraprap; Editing by Richard Borsuk and Ramya Venugopal) viparat.jantraprapaweth@thomsonreuters.com) ($1 = 30.885 baht) Link this Share this Digg this Email Reprints

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