PTT plans to spin off its retail fuel business under a major restructuring. SET-listed PTT Plc, the national oil and gas conglomerate, plans to spin off its retail fuel business and list it on the Stock Exchange of Thailand soon. President and chief executive Tevin Vongvanich said assets and liabilities of the retail fuel business and shares of companies related to the business will be transferred to PTT Retail Business Co Ltd.PTT Retail Business will be renamed PTT Oil and Retail Business Co Ltd (PTTOR), which will serve as the retail flagship of the group. For its fuel retail business, the price mechanism will remain in place and continue to be monitored by the Energy Ministry in line with global price trends. PTT shares closed yesterday on the Stock Exchange of Thailand at 344 baht, up four baht, in heavy trade worth 1.88 billion baht.

Source: Bangkok Post November 19, 2016 00:24 UTC