ข่าวแจ้งตลาดหลักทรัพย์
gets Cabinet nods for step-by-step privatisation
Bangchak Petroleum Plc (BCP) reported that the Cabinet yesterday
agreed to the privatisation of the state enterprise by allowing the
general public to take up 41% of the total registered capital on a step-
by-step basis and increasing the scope of BCP's businesses.
The move is to enhance the efficiency of BCP in its business
operations.
The share restructuring was jointly proposed by its three major
shareholders -the Finance Ministry, the Petroleum Authority of Thailand
and Krung Thai Bank Plc.
Under the endorsed plan, the general public and the private sector
would have their combined shareholdings rise by another 31%, broken down
into 10% held by the Crown Property Bureau and the Industrial Finance
Corporation of Thailand (IFCT), and 21% which will be gradually offerred
to the general public.
The distribution of the remaining 21% to other investors will be
placed under the supervision of a committee set up by the Finance
Ministry. The distribution will be done step-by-step to ensure the
stability of the share price in line with the company's fundamentals.
After the completion of the gradual privatisation, the Finance Ministry's
holding in the company will be 41%, while the combined holdings of IFCT
and the CrownProperty Bureau will be 10% and general public's share will
be 41%.
Translated by The Nati