PTT romps home

PTT completes Asia''s second largest IPO of the year.

At the beginning of 2001, few would have expected Thailand to produce one of the largest initial public offerings of the year. And certainly at the start of PTT's roadshows, no one, least of all the lead managers, thought the transaction would prove such a smooth ride, with international books closing six times oversubscribed.

The Thaksin government has managed to successfully clear Thailand's largest privatization by a wide margin and the Kingdom's fourth largest equity offering behind the three large, post crisis, bank recapitalizations for Bangkok Bank, Siam Commercial Bank and Thai Farmers Bank. Raising proceeds of $631 million pre-greeshoe $726 million post shoe, PTT beats Krung Thai Bank's $269 million IPO as...

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