BANGKOK, Nov 1 (Reuters) - Thailand's largest power firm PTT Pcl PTT.BK is within the strategy of s
BANGKOK, Nov 1 (Reuters) – Thailand’s largest power firm PTT Pcl PTT.BK is within the strategy of submitting for an preliminary public providing (IPO) for its retail unit, a high government mentioned on Friday.
State-owned PTT’s retail unit, PTT Oil and Retail (PTTOR), which owns espresso outlets and fuel stations, is getting ready for the float, PTTOR CEO Jiraphon Kawswat mentioned at a information convention.
“The submitting is in course of and there are procedures now we have to observe as a result of there are lots of events concerned,” Jiraphon mentioned with out giving additional particulars.
PTT’s plans to take its retail flagship public comes at a time when corporations in Thailand, in addition to within the Philippines, are main a revival in regional IPOs, spurred by rising investor curiosity in corporations centered on Southeast Asian shoppers.
Asset World Corp AWC.BK, the hospitality and property agency listed by Thai billionaire Charoen Sirivadhanabhakdi, and Philippine house furnishing retailer AllHome Corp HOME.PS have this yr raised $1.6 billion and $285…