PTT CFO: To Delay Star Petroleum Listing On Thai Bourse To 3Q
28 Febbraio 2012 - 7:39AM
Dow Jones News
The planned listing of Star Petroleum Refining on the Stock
Exchange of Thailand has been delayed to the third quarter from
early 2012 as previously planned, due to the "time-consuming"
documentation process, PTT PCL (PTT.TH) Chief Financial Officer
Tevin Vongvanich said Tuesday.
Star Petroleum, a joint venture between PTT and Chevron Corp.
(CVX), is currently seeking financial advisers, which will include
both domestic and foreign brokerage firms, Tevin told
reporters.
PTT and Chevron will sell a combined 30% stake in Star Petroleum
through the IPO. Following the IPO, PTT's shareholding in Star
Petroleum will fall to 25% from 36% while Chevron's interest will
fall to 45% from 64%.
-By Oranan Paweewun, Dow Jones Newswires; 662-690-4200;
oranan.paweewun@dowjones.com
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