Krungdhon Hospital Pcl (KDH), Thailand's second-smallest publicly traded hospital operator, surged to a record high in Bangkok trading on Friday after its largest shareholder announced a buyout plan.
Krungdhon jumped 13% to 63.50 baht as of the 12.30pm trading break, heading for the highest close since it started trading in Jan 1990. The stock earlier rallied by the 30% daily limit and was the biggest gainer in the 497-member SET Index (SET), which advanced 0.4%.
Bangkok Dusit Medical Services Pcl (BGH), the country's biggest private-hospital operator, will offer to buy the remaining shares in Krungdhon after agreeing to boost its stake to 45% from 20%, the companies said in separate regulatory filings Friday. Krungdhon will benefit from Bangkok Dusit's larger shareholding through upgraded facilities, according to Bualuang Securities Pcl.
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