Esso sells up to 1.1 bn shares

Esso (Thailand), the Thai unit of US-based ExxonMobil Corp, plans to sell up to 1.10 billion shares in the initial public offering scheduled for April 21-22.

Esso (Thailand) expects to raise up to Bt14.29 billion from the share sale, it said in a filing to the Securities and Exchange Commission.

At present, ExxonMobil owns 67.5 per cent of the Thai unit, while the Finance Ministry holds a 12.5 per cent stake.

The Thai government has the policy to have all refineries listed. Esso is the last to trade on the exchange.

- The Nation

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