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By Reuters Staff
(Adds detail, background)
BANGKOK, Jan 14 (Reuters) - Thai oil and gas company PTT Pcl has priced an initial public offering (IPO) of shares in retail unit PTT Oil and Retail (PTTOR) to raise up to $1.8 billion, it said on Thursday ahead of what is expected to be among the country’s largest listings this year.
The long-planned IPO follows a string of large Thai listings last year, with Central Retail Corporation Pcl and SCG Packaging Pcl each raising over $1 billion.
The Stock Exchange of Thailand plans to add 500 billion baht to its market capitalisation in 2021.
PTT set a preliminary price range for PTTOR shares between 16 baht and 18 baht, which would raise between 43.2 billion baht and 54 billion baht. ($1.44 billion to $1.80 billion)
PTT retail arm eyes up to B54bn in IPO
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published : 14 Jan 2021 at 16:33 (Reuters photo)
PTT Plc, the country s largest oil-and-gas company, has priced an initial public offering (IPO) of shares in retail unit PTT Oil and Retail (PTTOR) to raise up to 54 billion baht, it said on Thursday ahead of what is expected to be among the country s largest listings this year.
The long-planned IPO follows a string of large Thai listings last year, with Central Retail Corporation Plc and SCG Packaging Plc each raising over 30 billion baht.
The Stock Exchange of Thailand plans to add 500 billion baht to its market capitalisation in 2021.
Singapore SWF is a Cornerstone Investor in Thailand’s PTT Oil and Retail
Posted on 01/14/2021
PTT Public Company Limited or simply PTT (Thai: ปตท.) is a Thai state-owned SET-listed oil and gas company. Formerly known as the Petroleum Authority of Thailand, it owns extensive submarine gas pipelines in the Gulf of Thailand, a network of LPG terminals throughout the kingdom, and it is involved in electricity generation, petrochemical products, oil and gas exploration and production, and gasoline retailing businesses. PTT price its initial public offering (IPO) of shares in retail unit PTT Oil and Retail (PTTOR) to raise up to US$ 1.8 billion. PTT will hold 75% to 77.5% of shares after the IPO.