Energy stocks set to drop during OR IPO
Prices should return to normal later
The upcoming initial public offering (IPO) of PTT Oil and Retail (OR) will likely cause prices of other stocks in the energy sector to drop during the subscription period after institutional investors rebalance their portfolios, analysts say.
The subscription period may provide an opportunity for retail investors to buy up shares in other listed energy firms with strong fundamentals before the market corrects.
OR is poised to meet the fast-track criteria to be listed on the SET50 at the end of the first trading day, and will likely be larger than the top 20 ranked firms in the index because of its large market capitalisation.
The company is the retail arm of state-owned oil and gas conglomerate PTT Plc and best known for operating Cafe…
