Thai Oil IPO: record demand for refiner

Massive order book fuels South East Asia''s largest IPO of the year.

Thai Oil generated an enormous $16.5 billion order book for its Bt29.1 billion $705 million IPO yesterday October 13, prompting an allocation nightmare for its six leads - Bualuang Securities, Finasia, JPMorgan, Merrill Lynch, Morgan Stanley, Phatra and SCB.

If the greenshoe is exercised, the deal will have raised Bt32.5 billion $788 million, making it the largest ever IPO from Thailand and eclipsing that of its own parent PTT, which raised Bt32.2 billion in November 2001. With a base deal size of 909.88 million shares, the offering was priced at the very top end of its Bt27 to Bt32 indicative price range.

...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222