OR IPO tipped to draw droves of new investors

PTT Oil and Retail’s (OR) initial public offering (IPO) subscription is expected to draw thousands of new investors to the Thai stock market, with novel trading accounts likely to exceed 35,000 this month.

The subscription period ends next Tuesday, with share allocation the next day. Trading is expected to begin on Feb 11.

Bualuang Securities reported nearly 20,000 new account applications, while Kasikorn Securities tallied 15,000. The number of new retail subscriptions through bank sales agents and underwriters has not yet been reported.

OR said it attracted about 200,000 share subscribers in the first two days of the subscription period, and estimates the IPO will reach a total of 1 million retail subscribers.

“All retail investors should get an OR share allotment,” said Pichet Sithi-Amnuai, president of Bualuang Securities, which is the manager and underwriter…