Thai Oil IPO: record demand for refiner

Massive order book fuels South East Asia''s largest IPO of the year.

Thai Oil generated an enormous $16.5 billion order book for its Bt29.1 billion $705 million IPO yesterday October 13, prompting an allocation nightmare for its six leads - Bualuang Securities, Finasia, JPMorgan, Merrill Lynch, Morgan Stanley, Phatra and SCB.

If the greenshoe is exercised, the deal will have raised Bt32.5 billion $788 million, making it the largest ever IPO from Thailand and eclipsing that of its own parent PTT, which...

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