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Thai Tanayong Shares Surge After Suspension Lifted

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Thai Tanayong shares surge after suspension lifted

BANGKOK, Dec 28 (Reuters) - Shares in Thai property developer Tanayong surged on Thursday after resuming trade following a five-year suspension.

Tanayong opened at 2.50 baht compared to its last close at 0.01 baht on Sept. 6, 2001, when the shares were suspended while the company underwent a debt restructuring.

At 0310 GMT, Tanayong shares were trading at 2.28 baht per share.

Last month, a Thai court approved Tanayong's exit from rehabilitation after the company completed a $900 million debt restructuring.

Tanayong owns 30 percent stake of the Bangkok Mass Transit System, which operates the "sky train" rail network in the Thai capital.

Source: Reuters - 28 December 2006

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