May 12--Rayong Refinery Plc (RRC) announced yesterday that it would float almost 1.4 billion shares to raise between 28 billion and 30 billion baht in an initial public offering (IPO) scheduled for next week.
Proceeds from the IPO will be used to promote further integration between the country's upstream petrochemical industry and the PTT Plc-owned oil refinery, according to Chainoi Puankkosom, the president of RRC.
RRC has decided to expand production capacity with the construction of a reforming and upgrading complex for an estimated US$560 million.
The new site would help the company produce and supply reformate for The Aromatics (Thailand) Plc, …
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