Thailand to speed up listings of Star, Esso

The Thai government will speed up the listings of Star Petroleum Refining Plc and Esso Thailand Co. on the Stock Exchange of Thailand early next year, according to Energy Minister Piyasvasti Amranand. Piyasvasti said he wanted the listing procedure for Star Petroleum, 64% owned by U.S.-based Chevron Corp. and 36% by PTT Plc, to begin within the term of this government. Esso Thailand, meanwhile, is seen as having made more progress. It is scheduled to file its listing application with the Securities and Exchange Commission in November or December and hold its initial public offering (IPO) in April 2008. If the shares of both refiners could begin trading around the same time, it would be very positive for the stock market, he said. (August 31, 2007)