The President of the Stock Exchange of Thailand, Mr. Kittiratt Na-Ranong, has announced that PTT Public Co Ltd, a recently privatized state-owned enterprise, had now finished its IPO process by offering 920 million shares worth 35 baht each to the public on 15th November. The IPO was phenomenally well received by both local and foreign investors. PTT shares will commence trading on the 6th December in the Energy Sector, using PTT as an abbreviation.
"PTT has successfully completed its initial public offering via the branches of the commercial banks in a very short period. The commencement of PTT's trading day on the 6th December should stimulate the interest of investors significantly. It is estimated that market capitalization will increase by about 100 billion baht. PTT's success should also encourage other SOEs to undergo the privatization process and list on the Exchange in 2002," Mr. Kittiratt explained.
PTT now has 27,972.45 million baht in registered capital (comprising of 2,797.24 million shares with a par value of 10 baht each). Its share distribution through its recent IPO increased the number of PTT retail shareholders to 21,971 persons.
"It is apparent from the example of recent listings that it takes only a short time after an IPO to get the shares listed. This is because many listed companies now realize the advantages of an early listing. Moreover, the SET's support in facilitating the listing process by providing an on-line share subscription service that help reduces the company's administrative burden and expenses, plus the scripless system that accelerates the process, allows subscribers to trade their shares on the bourse faster. In addition, advancing the initial trading day also increases the bourse's liquidity, as well as promoting a positive investment climate."
"The SET is committed to use all necessary means to help facilitate and develop tools to support new listings as well as companies that are already listed on the SET," the SET President concluded.
Interested investors can access information on PTT from the SET website www.set.or.th or from PTT homepage www.pttplc.com
