BANGKOK, July 16 (Reuters) - Shares in SP Suzuki SPSU.BK, a Thai distributor of Suzuki motorcycles, surged 50 percent when trade resumed on Friday afternoon after the company clarified its delisting plan and a tender offer for its stock at a premium. At 0840 GMT, SP Suzuki shares were up 50.5 percent at 15.80 baht, while the main Thai index .SETI was 1.1 percent higher.
Major shareholder SP International will launch a tender to buy the shares it does not already own at 16.20 baht, 54 percent higher than the latest close on July 12 at 10.50 baht.
The tender will be made after SP Suzuki sells an 18.78 percent stake in joint venture Thai Suzuki Motor to Japan's Suzuki Moter Corp (7269.T) for 804.8 million baht ($25 million) including a dividend, expected to be completed by the end of October 2010.
Suzuki Motor, which owns 52.06 percent of Thai Suzuki, wanted to buy all the shares in Thai Suzuki because the Japanese firm planned to operate motorcycles retail sales in Thailand by itself, the Thai firm said.
Loss-making SP Suzuki attributed the delisting to its plan to quit the motorcycle business, where competition is intense, the statement said.
SP Suzuki, which also cancelled distribution and dealership agreements with Thai Suzuki, made a net loss of 9 million baht in the first quarter of 2010.
Suzuki has about 4 percent of the motorcycle market in Thailand, while Honda Motor Co (7267.T) has 67 percent and Yamaha Motor Co (7272.T) 27 percent, according to industry data. ($1=32.22
