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Date/Time
10 Feb 2021 18:05:00
Headline
SET News :SET welcomes leading oil and retail business operator OR on Feb 11
Symbol
SET
Source
SET
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                                                         SET News 10/2021
                                                          February 10, 2021

SET welcomes leading oil and retail business operator OR on Feb 11

BANGKOK, February 10, 2021 - The Stock Exchange of Thailand (SET) will list PTT 
Oil and Retail Business plc, a leading fuel retailer and retail business
operator, on February 11, under the ticker symbol "OR". The company has a market
capitalization at its initial public offering (IPO) of THB 208.98 billion
(approx. USD 6.9 billion).

SET Senior Executive Vice President Manpong Senanarong said that OR would list 
and start trading on SET in Resources industry group, Energy & Utilities sector.

OR is PTT Group's flagship company in operating oil and retail business locally 
and internationally, making a mark as leader in both retail and commercial
market for fuel, liquified petroleum gas and lubricants in Thailand. With
integrated business model and management, the company has fulfilled customer's
with value added for all groups of stakeholders in a balanced and sustainable
manner. The company has operated through over 1,900 PTT's stations across the
country (as of September 30, 2020), gaining 38.9 percent of market share in
terms of retail fuel sales volume in Thailand (according to the data collected
by Wood Mackenzie as of December 31, 2019). In addition, OR also has operated
Caf? Amazon, Thailand's largest coffeehouse chain by number of branches, with
over 3,100 branches nationwide (as of September 30, 2020). Caf? Amazon is
considered the world's sixth largest coffee cafe chain by number of branches (as
of December 2019 by Euromonitor).  The company has an exclusive license to
operate Texas Chicken brand in Thailand, and master franchise right to operate
food business of Hua Seng Hong Dim Sum brand. Moreover, the company has also
secured a number of strategic partnerships with leading global and local brands.

On the day of the trading debut, OR's registered paid-up capital will be THB 
116.1 billion with a par value of THB 10.00 each. It offered 2.61 billion newly
issued shares to general public at THB 18 each, for a total of THB 46.98 billion
(excluding the over-allotment). Bualuang Securities pcl, Finansa Securities
Co., Ltd., Kasikorn Securities pcl, Kiatnakin Phatra Securities pcl, and Tisco
Securities Co., Ltd. are the five financial advisors and lead underwriters.

OR President & Chief Executive Officer Jiraphon Kawswat said that listing on SET
will strengthen OR's positioning to be a market leader and enhance the company
to operate business in line with the OR's vision, to be Thailand's leading
global brand that creates values to communities through oil, retail and related
businesses. The fundraising will be used to expand gas station network,
penetrate further into commercial market business, invest in petroleum depot and
distribution center, grow entire retail network, as well as investing in
overseas business and new S-Curve business. This move is to ensure the company's
resiliency to the ever-changing business environment. In addition, the company
plans to leverage its success and expertise at regional and global levels.

OR's major shareholder after the IPO is PTT pcl and the shareholding ratio will 
not lower than 75 percent of the paid-up capital after the share allocation upon
the return of the borrowed shares. The company's dividend policy is to pay no
less than 30 percent of net profit after legal and other reserves as specified
by the company. However, the dividend payment must not exceed OR's accumulated
net profit.

For more information on OR, please see the company's prospectus at the 
Securities and Exchange Commission's website at www.sec.or.th; and for general
information, please visit www.pttor.com and www.set.or.th .
                      
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