Siam Cement to Sell 15.59% Stake in PTT Chemical

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 says it expects to record non-recurring net profits of about baht8.8 billion in the fourth quarter of 2010, enhancing SCG’s ability to pursue regional and domestic expansion of its core businesses. Following the sale, SCG will have about 67 million shares, representing 4.42% of PTT Chemical.SCG first...

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