Thai Oil: IPO barrelling to success

Roadshows began in Hong Kong yesterday (September 27) for a Bt24.3 billion ($588 million) to Bt28.8 billion ($697 million) IPO of Thai Oil, the refining arm of state oil giant PTT. The flotation, which is scheduled to close on October 12, appears to heading towards a blowout success after being timed to perfection.