Thailand's energy office approves PTT's listing scheme

Sep 27, 2001 02:00 AM

The National Energy Policy Office (NEPO) approved the Petroleum of Thailand's (PTT) listing scheme, tentatively setting the share-price range at between 37.5-65.0 baht. PTT, a state-owned enterprise going public, is planning to offer shares to the public during Nov 12-16 period, expecting to fetch new capital of between 33.75 to 42.167 bn baht, Deputy Prime Minister and NEPO chairman Pitak Intarawithayanan said.
Meanwhile, Industry Minister Suriya Chungrungruengkit said 600-950 mm PTT shares would be sold to the public at between 37.50 to 65.00 baht from Nov 12-16. "The full scale marketing campaign for the IPO will be launched in October and the share price will be approved on Nov 16," he said.

Suriya said the price was set at wide range owing to volatility on the stock market, adding that normally energy shares in foreign countries would increase by 3-4 times from the IPO price, when traded on the stock market. According to Suriya, about 60 % of the available shares will be offered to Thaiinvestors, while the balance will go to foreign investors.
"If the domestic demand is higher than the limited percentage, an additional 15 % would be made available by the Finance Ministry, which will hold about 65 % of PTT shares," he said. PTT's financial advisors include Merrill Lynch Phatra, SCB Securities, Lehman Brothers and Credit Suisse First Boston (Singapore). "NEPO has also approved the committee for capital raising from the private sector to have full authority to make its decision on setting share prices and the amount of shares to be offered," he said.

PTT governor Viset Choopiban said after it is listed, PTT would continue to operate its existing businesses, mainly natural gas, oil and petrochemicals. Meanwhile, PTT has cut gasoline prices by 30 satang, effective. After the cut, benzene 95 will be 15.69 baht, benzene 91 priced at 14.69 baht, and diesel at 13.64 baht.

Source: Business Day
Market Research

The International Affairs Institute (IAI) and OCP Policy Center recently launched a new book: The Future of Natural Gas. Markets and Geopolitics.


The book is an in-depth analysis of some of the fastest moving gas markets, attempting to define the trends of a resource that will have a decisive role in shaping the global economy and modelling the geopolitical dynamics in the next decades.

Some of the top scholars in the energy sector have contributed to this volume such as Gonzalo Escribano, Director Energy and Climate Change Programme, Elcano Royal Institute, Madrid, Coby van der Linde, Director Clingendael International Energy Programme, The Hague and Houda Ben Jannet Allal, General Director Observatoire Méditerranéen de l’Energie (OME), Paris.

For only €32.50 you have your own copy of The Future of Natural Gas. Markets and Geopolitics. Click here to order now!


Upcoming Conferences
May 2018 »
1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31

Register to announce Your Event

View All Events