Sell-down in PTT Chemical sets new record for Thailand

The overnight block, which was sold by Siam Cement, was upsized by 16% for a total deal size of $1.11 billion.

Siam Cement has sold a 15.6% stake in PTT Chemical, raising Bt33.04 billion $1.1 billion in the largest block trade in Thailand ever. The deal, which was launched at about 11pm Hong Kong time on Tuesday and completed before the Thai market opened yesterday, is more than four times the size of the country’s second largest overnight placement a $223 million sell-down in Ratchaburi Electricity Generating Holdings, which was completed in November.

The sale is also massive when considering that...

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