PTT Oil wraps up blow-out IPO as foreign investors left empty-handed

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PTT Oil wraps up blow-out IPO as foreign investors left empty-handed

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Audience raising hands up while businessman is speaking in training at the office. | ronnarong - stock.adobe.com

Thailand’s PTT Oil and Retail Business scooped up Bt54bn ($1.79bn) this week from the country’s largest IPO in a year. The deal was a hit with both domestic and foreign investors — but in a somewhat unusual twist, the issuer cut the entire international public book during allocation. Jonathan Breen reports.

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