Reuters: Hot Stocks: STOCKS NEWS THAILAND-Sriracha Construction surges on debut

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STOCKS NEWS THAILAND-Sriracha Construction surges on debut Jul 2nd 2012, 03:39 Sun Jul 1, 2012 11:39pm EDT Shares in construction firm Sriracha Construction Pcl gained as much as 25 percent on their stock market debut with the share price surging to 18.8 baht ($0.59), compared to the initial public offer price of 15 baht. Sriracha shares were trading at 17.70 baht, with about 31 million shares having changed hands. The broader stock market was up 0.94 percent. Broker Asia Plus Securities rated the stock a 'buy', with a target price of 19.56 baht, citing the stock's low valuation, trading at 6 times price to earnings and its high dividend yield of 8.3 percent. (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com)

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