Singapore & Thailand: Thai Beverage stays flat on Singapore Exchange although market support ends

Thai Beverage shares were July 04 heavily traded but they remained flat at 28 cents despite end to stabilization action by IPO managers at close of yesterday's trading, Dow Jones Newswires released July 05.

41.7 million shares, including 33.4 million from block deals were quoted. Macquarie, which has buy, 31-cent target on ThaiBev, says any near-term share price fall would make good entry point as stock undervalued based on discounted cash flow.

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