PETROLEUM
All systems go for PTTEP rights offer
Recapitalisation will fund next three years
- Published: 21 Nov 2012 at 00.00
- Newspaper section: Business
PTT Exploration and Production Plc (PTTEP) says its upcoming capital increase of 98 billion baht _ Thailand's largest recapitalisation so far _ will provide it with enough funds for the next three years despite aggressive expansion, says CEO Tevin Vongvanich.
The country's only listed petroleum exploration company has no need to raise fresh capital for at least three years, he added.
The capital increase through a rights offering is expected to be smooth after major shareholders agreed to participate and PTTEP conducted two roadshows the last two months.
This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.
