PTTOR prepares to file mammoth IPO

As PTT prepares to spin-off its oil and retail arm, Thai IPOs are shaping up to raise more money in 2019 than in 2017 and 2018 combined.
The fuel of PTT's profit growth
The fuel of PTT's profit growth

PTT is expected to file for the initial public offering of its oil and retail arm PTTOR at the very beginning of January, setting in motion what should be a record-breaking year for the Stock Exchange of Thailand SET.

PTTOR is one of the country’s most hotly anticipated IPOs of all time, and expectations are high for a deal that could raise up to $3 billion based on the syndicate’s Bt200 billion $6.1 billion working valuation for the entire company.

If the group’s valuation expectations are met, then its IPO will end up being almost double the size of the country’s previous record-holder -...

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