Bangkok Bank sees positive response to OR shares, with over 90% subscribed through app. Meeting the needs of a new generation with an IPO price of 18 baht per share, the OR shares are ready to be allocated to individual investors
February 03, 2021
Bangkok Bank has revealed that after opening channels for PTT Oil and Retail Public Company Limited (OR) shares for purchase online and through Bangkok Bank branches, it saw an overwhelming response from investors with over 90% subscribing via Bangkok Bank Mobile Banking and over 80% being new investors. Meanwhile, OR announced an initial public offering (IPO) price for the newly issued ordinary shares of 18.00 baht per share. The shares will be thoroughly allocated to investors to raise funds in the Stock Exchange of Thailand as planned.
Bangkok Bank Executive Vice President Thaweelap Rittapirom said that Bangkok Bank offered the IPO of PTT Oil and Retail Business Public Company Limited or ‘OR’ through two channels for subscription: via the new “Securities Subscription” feature of Bangkok Bank Mobile Banking, and through Bangkok Bank branches nationwide from January 24, 2021 - February 2, 2021 (noon). It received great attention from the public including both regular and new investors, participating in 'OR' shares subscription through both channels.
“The Bank's participation as a subscription channel for OR shares has gained a lot of public interest both from customers who regularly invest with the Bank and from new investors who have never entered into securities subscription transactions with the Bank before. The overwhelming interest in OR shares is due to the fact that the business is already well known to the general public. In addition, the allotment was made by a Small Lot First process through the SETTRADE computer system. The first round allocated 300 shares to each subscriber, with subsequent rounds allocating a further 100 shares for each subscriber until the total reached the number of shares offered. The order of the subscription did not affect the allocation. This gave confidence that every retail investor would have the opportunity to jointly own part of the business through shareholding.”
Mr. Thaweelap added that the Bank also observed interesting investor behavior as a subscription agent for OR shares. The Bank found that over 90% of the customers subscribed via the new “Securities Subscription” feature of Bangkok Bank Mobile Banking while over 80% of them were new customers who have already used Bangkok Bank Mobile Banking but had never done a securities subscription transaction before. This reflects the current behavior of investors who always look for an investment channel that can facilitate and fit their lifestyle and uncomplicated transaction process. For instance, those who do not have a trading account can still subscribe for OR shares. In addition, nearly 10% of investors signed up for Bangkok Bank Mobile Banking for the first time to subscribe for the OR shares.”
“The Bank facilitated customers to subscribe to securities via digital channels as a result of the Bank’s understanding of current customer behavior and needs. This was also a good opportunity for the Bank to better understand investor behavior and receive direct feedback from customers which will benefit the ongoing development of Mobile Banking to better serve customer needs. At the same time, it shows that branches remain important to a lot of customers who seek advice from investment advisors resulting in greater customer confidence and higher investments. As a “Trusted Partner”, the Bank has to develop all channels to meet customers’ needs and support all types of customers,” said Mr. Thaweelap.
Individual investors can check the results of the allocation on February 6, 2021 at www.settrade.com
If investors have not been allocated the full amount of their subscription or did not receive their allocation and/or the final offering price is lower than the price that they have paid, the Bank will refund the difference in the method specified by subscribers on the Subscription Form or Bangkok Bank Mobile Banking.
For more information, investors can call the OR Contact Center at 1365 or visit https://investor.pttor.com or call OR’s Investor Relations at 0 2196 5037-8, 0 2196-5964, 0 2196 5040-1 or call Bualuang Phone at 1333 or email: ir@bangkokbank.com with the subject: Subscription of OR’s IPO.
Investors are advised to study the product characteristics, returns conditions and risks before deciding to invest.
Bangkok Bank Executive Vice President Thaweelap Rittapirom said that Bangkok Bank offered the IPO of PTT Oil and Retail Business Public Company Limited or ‘OR’ through two channels for subscription: via the new “Securities Subscription” feature of Bangkok Bank Mobile Banking, and through Bangkok Bank branches nationwide from January 24, 2021 - February 2, 2021 (noon). It received great attention from the public including both regular and new investors, participating in 'OR' shares subscription through both channels.
“The Bank's participation as a subscription channel for OR shares has gained a lot of public interest both from customers who regularly invest with the Bank and from new investors who have never entered into securities subscription transactions with the Bank before. The overwhelming interest in OR shares is due to the fact that the business is already well known to the general public. In addition, the allotment was made by a Small Lot First process through the SETTRADE computer system. The first round allocated 300 shares to each subscriber, with subsequent rounds allocating a further 100 shares for each subscriber until the total reached the number of shares offered. The order of the subscription did not affect the allocation. This gave confidence that every retail investor would have the opportunity to jointly own part of the business through shareholding.”
Mr. Thaweelap added that the Bank also observed interesting investor behavior as a subscription agent for OR shares. The Bank found that over 90% of the customers subscribed via the new “Securities Subscription” feature of Bangkok Bank Mobile Banking while over 80% of them were new customers who have already used Bangkok Bank Mobile Banking but had never done a securities subscription transaction before. This reflects the current behavior of investors who always look for an investment channel that can facilitate and fit their lifestyle and uncomplicated transaction process. For instance, those who do not have a trading account can still subscribe for OR shares. In addition, nearly 10% of investors signed up for Bangkok Bank Mobile Banking for the first time to subscribe for the OR shares.”
“The Bank facilitated customers to subscribe to securities via digital channels as a result of the Bank’s understanding of current customer behavior and needs. This was also a good opportunity for the Bank to better understand investor behavior and receive direct feedback from customers which will benefit the ongoing development of Mobile Banking to better serve customer needs. At the same time, it shows that branches remain important to a lot of customers who seek advice from investment advisors resulting in greater customer confidence and higher investments. As a “Trusted Partner”, the Bank has to develop all channels to meet customers’ needs and support all types of customers,” said Mr. Thaweelap.
Individual investors can check the results of the allocation on February 6, 2021 at www.settrade.com
If investors have not been allocated the full amount of their subscription or did not receive their allocation and/or the final offering price is lower than the price that they have paid, the Bank will refund the difference in the method specified by subscribers on the Subscription Form or Bangkok Bank Mobile Banking.
- Transfer to deposit account: receive by February 17, 2021
- Cheque payment: receive by February 22, 2021
For more information, investors can call the OR Contact Center at 1365 or visit https://investor.pttor.com or call OR’s Investor Relations at 0 2196 5037-8, 0 2196-5964, 0 2196 5040-1 or call Bualuang Phone at 1333 or email: ir@bangkokbank.com with the subject: Subscription of OR’s IPO.
Investors are advised to study the product characteristics, returns conditions and risks before deciding to invest.
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