Bangkok--5 Jun--SET
Rayong Refinery PCL lists with The Stock Exchange of Thailand (SET) today (June 5), in the Energy & Utilities Sector, Resources Industry Group. The company has successfully raised funds to reform and upgrade a complex venture with The Aromatics PCL (ATC).
SET had approved the listing, and the firm will use RRC as its trading symbol, the Chairman of the Capital Market Opportunity Center, Ms. Sopawadee Lertmanaschai, announced.
RRC has THB27.95 billion (approx. USD 725.97 million) in paid-up capital. This is made up of 2.275 million ordinary shares and 520 million shares in capital increase, all with a par value of THB1.00. RRC’s initial public offering (IPO) consisted of RRC’s 520 million shares plus PTT PCL’s 877.50 million shares, a total of 1,397.5 million shares. The offer was open to retail investors on May 18 and 19, and to institutions on May 26, 29, and 30, and at THB 18.00 per share. Finansa Securities Co., Ltd. and Phatra Securities PCL are financial co-advisors.
Aside from the shares making up the IPO, there are a further 113.289 million shares (8.11% of IPO shares), allocated under the ‘green shoe option’ to maximize price stability.
The IPO price for RRC is equal to 7.66 times its price/earnings (P/E) ratio. The company earnings in 2005 were taken into account excluding profits from debt restructuring.
As a leading Thai petroleum refiner and producer, RRC conducts one of the most modern and energy-efficient operations nationally and in the Asia-Pacific region.
It provides a range of high quality refined petroleum products, including light products (LPG, light naphtha, propylene, reformate and gasoline), middle distillates (jet fuel and diesel) and heavy products (fuel oil and bitumen).
After the IPO, RRC’s principal shareholder will be PTT PCL, with 49.99% of the company’s paid-up capital.
For more information on RRC, please visit its corporate website at www.rrc.co.th , the SETTRADE.Com website at www.settrade.com , or the SET website at www.set.or.th
For more information, please contact the Corporate Communications Dept.:
Ladawan Kantawong Tel: 0-2229-2036 / Kulvida Jintakawong Tel: 0-2229-2037 /
Nattaporn Boonprapa Tel: 0-2229-2049 / Watsamon Saowakhonsathien Tel: 0-2229-2797