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Siam Cement to Sell 15.59% Stake in PTT Chemical

10:38 PM MST | December 12, 2010 | Deepti Ramesh

Siam Cement Group (SCG; Bangkok) says it will sell 236 million shares or about 15.59% of PTT Chemical (Bangkok), at baht140/share ($4.7/share) to investors on The Stock Exchange of Thailand (Bangkok). With this sale, which is valued at about baht33 billion, SCG expects to record non-recurring net profits of about baht8.8 billion in the fourth quarter of 2010, and this will enhance SCG’s ability to pursue both regional and domestic business expansion in its core businesses, the company says. Following the sale, SCG will have about 67 million shares...

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