The PetrolPlaza audio version is presented to you by UNITI expo 2021, the leading retail petroleum and car wash trade fair in Europe.

English Español Thailand: PTT Oil to launch IPO for its retail business

Thailand's state-owned oil and gas conglomerate PTT is moving forward with the IPO of its subsidiary PTT Oil and Retail Business.

Last update:

The initial public offering (IPO) launch of PTT Oil and Retail Business Co (PTTOR), a wholly owned subsidiary of Thai national oil and gas conglomerate PTT Plc, will be this year’s biggest public offering, according to LH Securities.

PTTOR's initial market capitalisation is estimated at 190-250 billion baht ($5.8bn - $7.6bn). The operation is expected to increase the share value of PTT by 1.6-3 baht per share.

LH Securities forecasts the company's net profit to decrease by 10-15% to 9.3-9.5 billion baht this year because of the impact from Covid-19 outbreak, with the price-to-earnings ratio projected at 20-25%, reports the Bangkok Post.

PTTOR submitted an application on Thursday with the country’s Securities and Exchange Commission.

PTTOR operates 1,894 petrol stations, 1,700 of which are in Thailand, with the rest spread through oyut Cambodia, Laos, Myanmar and the Philippines, as well as 2,750 Cafe Amazon outlets.

Related contents