PTTEP to raise US$3bn from new shares
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PTT Exploration and Production Plc sets the offering price of its newly-issued shares at Bt142, to raise a total of Bt92.3 billion.
Determined via a book-building process, the price is on the top range. At the value, it is Thailand's biggest equity offering. A total of 650 million shares would be issued on a preferential basis to elegible shareholders, who are entitled to 0.195783 share per one existing share.
“The final offering price reflects current market demand for PTTEP’s newly issued ordinary shares," said Tevin Vongvanich, president and Chief Executive Officer of PTTEP. "We have received positive responses from our management roadshow in which we met with investors in Thailand, Singapore, Hong Kong, and the USA."
He said that to ensure transparency, PTT - the parent company - did not participate in the bookbuilding process which determined the final offering price, but has pledged its full support for the capital increase and has also committed to fully subscribe for its entitlement to maintain its shareholding.
"The equity raising will enable PTTEP to strengthenits capital structure and allow the company to achieve its growth plans.We invite alleligible shareholders to subscribe to the offering during the announced subscription period, to be a part of PTTEP’s successes and to help ensure Thailand’s energy security.”
Subscription can be placed at selling Agents, which include Bangkok Bank, Krung Thai Bank, Kasikornbank and Siam Commercial Bank head offices and nationwide branches, starting from Dec 3 until Dec 6. The allocation results will be announced on Dec 7 on PTTEP’s website (www.pttep.com) or at the head offices, branches nationwide or websites of the selling agents. Subscribers will be refunded for any unallocated shares within 14 days from the last date of subscription.
Allocation results will be announced from December 7, 2012 onwards. Subscribing shareholders will be able to check their share allocation results at www.settrade.com, PTTEP’s website (www.pttep.com) or at the head offices, branches nationwide or websites of the Selling Agents. Subscribers will be refunded for any unallocated shares within 14 days from the last date of subscription.
