Thai bourse to halt PTTCH, PTTAR shares’ trading on 11-20 October

10 October 2011 10:45  [Source: ICIS news]

SINGAPORE (ICIS)--The Stock Exchange of Thailand (SET) said on Monday it will suspend the trading of shares of PTT Chemical and PTT Aromatics for eight days on 11-20 October, as requested, as the two companies complete their merger process.

The trading suspension is “in preparation for the allocation of shares in the MergedCo [merged company] to shareholders of PTTCH and PTTAR, including for the listing of shares in the MergedCo on the Stock Exchange of Thailand”, the companies said in separate filings to the Thai bourse.

One PTTCH share would be equivalent to 1.98 shares in the merged company, while one PTTAR share was equivalent to about 0.50 share of the unified firm, based on the planned allocation disclosed in February this year.

The two companies, which are expected to hold a joint shareholders’ meeting on 18 October on the merger, will eventually be listed under just one name.

At 17:27 Singapore time (09:25 GMT), PTTAR shares were up 1.94% at baht (Bt) 26.25, while PTTCH was trading at Bt103.50, up by 1.47% from Friday’s close.

By: Pearl Bantillo
+65 6780 4359

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