AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
Byline: Yuthana Praiwan
Jul. 5--The board of directors of PTT Plc has voted to create a new company called PTT Chemicals Plc to accommodate the merger of National Petrochemical Plc (NPC) and Thai Olefins Plc (TOC), PTT's two listed petrochemical subsidiaries, according to chief financial officer Pichai Chunhavajira.
Under the merger plan approved yesterday, PTT Chemicals would issue new shares to swap with the shares of NPC and TOC. The formula will be to swap one share of NPC to 1.56978533 shares of the new company, and one share of TOC to 0.784892665 shares of the merged entity.
The ratios are derived from the relative market prices of TOC and ...