A PTT logo at the firm’s headquarters on Vibhavadi Rangsit Road. (Photo by Wichan Charoenkiatpakul)
PTT Oil and Retail Business (OR) shares will begin trading on the Stock Exchange of Thailand (SET) on Thursday, with analysts suggesting a fair value of 22 baht per share based on the company’s fundamentals.
UOB Kay Hian Securities Research has determined the OR price at 22 baht, up 4 baht or 22.2% from the initial public offering (IPO) price of 18 baht.
OR is the retail arm of state oil and gas conglomerate PTT Group and Thailand’s largest oil and non-oil retail business. Analysts expect earnings to recover by 34.6% in 2021 through growth in all business segments.
The firm will be able to achieve long-term growth from having a larger network of domestic and international businesses and by improving…
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