PTTEP allocates part of preferential offering to new investors

About 9.2% of the $3 billion deal is allocated to investors that participated in the earlier bookbuilding exercise, sources say.

State-backed oil and gas company PTT Exploration and Production PTTEP has allocated 9.2% of its Bt92.3 billion $3 billion preferential public offering to investors that participated in the bookbuilding exercise at the end of November, according to sources.

The company’s offering to existing shareholders got a good response and technically the deal was oversubscribed after including the applications for excess shares. However, the preferential offering, which is similar to a rights issue, was structured so...

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