esso-thailand-prices-ipo-above-the-bottom-of-the-range

Esso Thailand prices IPO above the bottom of the range

The first Thai IPO in 10 months raises $269 million as the Ministry of Finance decides to sell only a portion of its shares.
Esso Thailand has attracted good demand to its initial public offering thanks to solid gains in its closest comparables during the roadshow, promises of a high dividend and the fact that this was the first equity offering from Thailand targeted at international investors in 10 months. This allowed the refiner, which is an affiliate of Exxon Mobil, to price the deal slightly above the bottom of the indicated range.

The final price of Bt10 per share compares with a range of Bt9 to Bt13 and gives a total deal size of Bt8.46 billion $269 million. While this is a good achievement given the number of IPOs that have been pulled over the past...
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