Finance Ministry sells 5% stake in Bangchak Corp to fund PTTOR share purchase #SootinClaimon.Com

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Finance Ministry sells 5% stake in Bangchak Corp to fund PTTOR share purchase

Biz insightsJan 25. 2021

By The Nation

The Finance Ministry sold 71.89 million shares in SET-listed Bangchak Corporation (BCP) to the state-owned Vayupak Fund 1 on January 19, according to the Securities and Exchange Commission (SEC) on Monday.

The sale was made to fund the ministry’s purchase of 153.34 million shares in PTT Oil and Retail Business (PTTOR)’s upcoming initial public offering.

The sale accounted for 5.30 per cent of BCP’s total issued and paid-up shares.

Following the sale, the Finance Ministry’s stake in BCP amounts to 65.54 million shares, accounting for 4.82 per cent of the company’s total shares.

As of January 22, the Finance Ministry’s shareholdings totalled Bt1.22 trillion, with stakes in Airports of Thailand (AOT), PTT, TMB Bank (TMB), Thailand Future Fund (TFFIF), Thai Airways International (THAI), BCP, MCOT, MFC Asset Management (MFC), Padaeng Industry (PDI), Ratchaphruek Hospital (RPH) and NEP Realty and Industry (NEP).

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