PTTEP plans country's biggest public offering
Proceeds will fund international expansion
- Published: 1 Dec 2012 at 00.00
- Newspaper section: Business
The SET-listed PTT Exploration and Production Plc (PTTEP), Thailand's sole petroleum explorer, expects to raise 92.3 billion baht in the country's largest-ever equity offering.
The unit of energy giant PTT Plc will sell shares at 142 baht each as determined via a book-building process against a Thursday close of 154 baht, Tevin Vongvanich, the president and chief executive, said yesterday in a press release.
A total of 650 million ordinary shares will be issued and allotted on a preferential public offering basis to eligible shareholders. The entitlement ratio is one existing ordinary share to 0.195783 newly issued ordinary shares this coming Monday-Wednesday.
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