PTTEP sets preferential offering price at Bt142 per share

The Thai oil and gas company attracts strong interest for the pre-deal bookbuilding exercise, sending a positive signal to existing shareholders and pushing the share price higher ahead of its $3 billion share sale.

PTTEP sets preferential offering price at Bt142 per share

PTT Exploration and Production PTTEP, the state-backed oil and gas company that earlier this year won the bidding for London-listed Cove Energy, has set the price for its upcoming Bt92.3 billion $3 billion preferential public offering at Bt142 per share.

The price translates into an 8.1% discount to the closing price last Wednesday and a 6.9% discount to the theoretical ex-rights price Terp based on that same closing price.

Existing shareholders...

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