8 November 2004, Hong Kong LAWFUEL – Law, legal, law firm, IPO…

8 November 2004, Hong Kong LAWFUEL – Law, legal, law firm, IPO law, Asian law news – Shearman & Sterling LLP’s Hong Kong office
has advised the underwriters, led by JP Morgan Securities Ltd., Merrill
Lynch International and Morgan Stanley & Co., International Limited, of
a 26 billion Baht (approximately US$643 million) global offering of
ordinary shares of Thai Oil Public Company Limited, involving an initial
public offering and listing of ordinary shares on The Stock of Exchange
of Thailand and an international offering pursuant to Rule 144A and
Regulation S under the U.S. Securities Act of 1933, as amended.

An aggregate of 824,299,137 million ordinary shares were sold at an
offering price of 32 Baht per share, with an option to purchase up to an
additional 107,799,000 ordinary shares at the offering price.

ABN AMRO Rothchild was the international co-lead manager; Bualuang
Securities Public Company Limited, Finansa Securities Limited, Phatra
Securities Company Limited and SCB Securities Company Limited were the
Thai lead underwriters.

Thai Oil is Thailand’s largest oil refiner and this offering was the
largest IPO in Thailand to date. It was also the largest IPO in
Southeast Asia since 2002.

Attorneys included Hong Kong capital markets partner Matthew Bersani,
Hong Kong capital markets associates Alan Seem, Hae-Ran Song, Blake
Dunlap and legal assistant Aaron Huang.

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