Thailand IPO

PTT Oil and Retail’s (PTTOR) IPO Extends ECM Deals In Thailand Amid Bangkok Lockdown

While billion-dollar ECM deals are on the decline globally, domestic Thai corporates are stoking demand with spin-offs of well-known, profitable subsidiaries.

PTT Oil and Retail PTTOR, the conglomerate’s retail arm which sells and distributes petroleum products but better known as the operator for PTT’s Café Amazon coffee chain, filed for IPO last week with expectations that the deal would raise between $1 billion and $2 billion for the parent company.

While plans to go public were discussed back in 2018, the business entity is expected to fetch a market capitalization between Bt 190 billion to Bt 250 billion $6 billion to $8 billion, which would be eligible for the SET50 index.

PTTOR’s IPO becomes Thailand’s second billion dollar deal this year, following Central...

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