IVL Jumps 4% to ฿39, Beating SET Index with the Rumors of a New Acquisition in USA!

The share price of Indorama Ventures Public Company Limited (IVL) closed the morning session at ฿39.00/share, increased ฿1.50/share or 4.00%. The highest share price of the session was ฿39.25/share and the lowest was ฿37.75/share with a trading value of THB 573 million.

The increase, beating SET Index, was due to the rumor that IVL will invest in another petrochemical company in the U.S. The source who requested not to be named has revealed with “Kaohoon Online” that IVL is in a discussion to make a deal with Huntsman Corporation, an American multinational manufacturer and marketer of chemical products for consumers and industrial customers.

Huntsman manufactures assorted polyurethanes, performance products, and adhesives for customers like BMW, GE, Chevron, Procter & Gamble, and Unilever. The company operates more than 75 manufacturing, R&D and operations facilities in over 30 countries and employs approximately 10,000 associates across four business divisions. Huntsman had a total revenue of USD 9,379 million in 2018, and a net profit of USD 337 million.