Thailand's PTTEP plans share sale of up to $3 billion

Parent company PTT will take up 65% of the deal, leaving about $1 billion to be placed with other investors. The fundraising plan comes after PTTEP wins a bid for African LNG-play Cove Energy.

Thailand's PTTEP plans share sale of up to $3 billion

PTT Exploration and Production PTTEP has taken the first step towards the long-term financing of its acquisition of London-listed Cove Energy with the approval of its board of directors of a new share issue of about Bt98 billion $3 billion. The issue may comprise of up to 650 million ordinary shares, which is equal to 19.6% of the existing share capital, with the final number of shares to be adjusted to meet the fundraising target.

...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Print Edition

FinanceAsia Print Edition

EVENTS