Shareholders endorse merger of PTT subsidiaries
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Shareholders of PTT Aromatics and Refining Plc and PTT Chemical Plc today approved the amalgation plan, which will merge both companies.
PTT Global Chemical will be created, with registered capital of Bt45 billion.
Veerasak Kositpaisal, chief executive officer of PTT Chemical, said that tomorrow PTT Global Chemical will call for a board of directors meeting, to appoint the chairman and sub-committees as well as the management team.
PTT Global Chemical will start share trading on Oct 21.
PTT Aromatics and Refining and PTT Chemical has been suspended from share trading. Prior to the suspension, their share prices stayed at Bt26.50 and Bt106, respectively. This indicates the share price of the new company at Bt53.
