Thai state-owned PTT retail unit targets to raise up to $1.8b in IPO

Thai state-owned PTT retail unit targets to raise up to $1.8b in IPO

The logo of PTT is pictured at an exhibition hall in Bangkok, Thailand, May 12, 2016. REUTERS/Athit Perawongmetha

Thai oil and gas company PTT Pcl has priced an initial public offering (IPO) of shares in retail unit PTT Oil and Retail (PTTOR) to raise up to $1.8 billion, it said on Thursday ahead of what is expected to be among the country’s largest listings this year.

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