SET Announcements

The Bangchak Petroleum Plc (BCP) reported that the offering of the company's shares of 31% to become a private sector has been responded. Private sectors have offered to buy 23-31% of shares and the Finance Ministry will allocate 10-15% to the general public. A total purchase demand thus make 33-46% which is higher than the amount of stock. The Finance Ministry will allocate at the end of 1996. The progress of stock offering known from the Finance Ministry is that as the Cabinet has resolved to distribute the stocks to public to increase the efficiency of expansion with other businesses, the stock distribution will be of old stocks held by Finance Ministry of 7%, Petroleum Authority of Thailand (PTT) 24%, total of 31%. There are now many groups stated intention to buy which are Bureau of the Crown Property and IFCT 7%, Social Security Fund 10-14%, Premier Enterprises 3-5%, Sahapattanapibul (SPC) 3-5%. Moreover, the Finance Ministry has a plan to distribute stocks to the public and small private sectors of 10-15%. Therefore, there are people state intention to buy the stocks of 31% and the Finance Ministry will allocate later. For this allocation, the Finance Ministry has selected 3 financial institutions to serve as consultant and to guarantee the sales of stock which are Jardine Fleming Thanakom Securities Ltd, Phatra Thanakit Plc, Tisco Finance and Securities Plc. The contract of appointment will be signed soon and the stock distribution is expected to finish at the end of 1996. After the distribution, the government will hold less shares to 49% while the Finance Ministry will still be the major shareholders of 41% and Krung Thai Bank Plc (KT) of 8%. Translated by the Nation