ptt

While billion-dollar ECM deals are on the decline globally, domestic Thai corporates are stoking demand with spin-offs of well-known, profitable subsidiaries.

Portfolio managers and buy-side analysts give their verdicts on the region's corporations. Today we see some new winners in Thailand, Maybank ranking highly in Malaysia and Ayala taking home top prizes in the Philippines.

The oil and gas group agrees to pay $3 billion to acquire a majority stake in the independent power producer from France’s Engie, potentially rising to $4.3 billion.

A trio of record breaking IPOs are heading to the Stock Exchange of Thailand. Will foreign investors return to support them?

Thailand’s state-owned energy giant sold a 30.6% shareholding for $315 million, while Star Petroleum raised a further $50 million from the sale of new shares.

About 9.2% of the $3 billion deal is allocated to investors that participated in the earlier bookbuilding exercise, sources say.

The Thai oil and gas company attracts strong interest for the pre-deal bookbuilding exercise, sending a positive signal to existing shareholders and pushing the share price higher ahead of its $3 billion share sale.

Bring on duration: PTT's 10- and 30-year bonds price at the same spread reflecting strong investor demand for long bonds.

Meanwhile, Thai energy company PTT is rumoured to be ready to launch a $1 billion 10- and 30-year bond as early as today.