HUN

Banpu, a Thai conglomerate bought Centenial Coal for nearly USD$2 billion recently. Yesterday it bought just over 12% of HUN, a coal explorer in Mongolia, at AUD$1.50 in an unusually expensive placement. HUN closed just under $1.40 this arvo. Now what is interesting is, the share price of Banpu went up by 1%. That means the Thai market considered it a good buy even though it paid much over the prevailing market price. Aussies are good at selling themselves under! Not to Banpu but to the market.