|
contents | business | |||||||||
| Siam Cement to sell approximate 15.59% stake in PTTCH The Siam Cement Public Company Ltd (SCC) announced that it will sell 236,000,000 shares, or approximately 15.59% in PTT Chemical Public Company Ltd (PTTCH) at 140 baht per share to both local and international investors on The Stock Exchange of Thailand. The value of this transaction is approximately 33,000 million baht, and SCC is expected to book a non-recurring net profit after tax of approximately 8,800 million baht in Q4 of 2010. This sale will enhance SCC's ability to pursue both regional and domestic business expansion in its core businesses. In addition, this transaction does not impact SCC's existing contractual off-take agreements of products from PTTCH as raw materials for SCC's downstream operations. Following this transaction, SCC will have a remaining 66,999,927 shares, representing 4.42% of PTTCH's share capital. write your comments about the article :: © 2010 Construction News :: home page |