Weerawong, Chinnavat & Partners Ltd. represented PTT Oil and Retail Business Public Company Limited (OR) on the initial public offering (IPO) of its shares to domestic institutional and retail investors as well as international institutional investors under Rule 144A/Regulation S of the US Securities Act and the listing of its shares on the Stock Exchange of Thailand.
The size of OR’s IPO is approximately THB 54 billion, equivalent to USD 1.8 billion (including the offering of the over-allotment shares). This is the 2nd largest IPO of a Thai company to date. Its shares were heavily over-subscribed by approximately 480,000 retail investors, the largest number of retail investors subscribing for shares in an IPO in the history of the Thai capital markets. Due to its popularity, OR shares were fast-tracked into the calculation of the SET 50 and SET 100 indices within 3 business days after the first day of trading.
The Weerawong C&P team led by Veeranuch Thammavaranucupt, Senior Partner, Trinuch Chuenchomlada, Partner and Wittaya Kaewkungsadan, Partner included associates Veerakorn Samranweth, Arisa Thaweepanyayot, Sompatsorn Liewpolvanit, Vijit Suthisripok and Wisitchai Phasuk.