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Exxon Thai unit sets IPO price at 10.0 baht - source

Tue Apr 22, 2008 9:58pm EDT

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BANGKOK, April 23 (Reuters) - Esso (Thailand), a unit of Exxon Mobil Corp (XOM.N), has set its initial public offering price at 10 baht a share, near the lower end of an indicative range of 9.0-13.0 baht, a source close to the deal said on Wednesday.

"Most people think 10 baht is appropriate," the financial source told Reuters.

Esso (Thailand), 87.5 percent owned by ExxonMobil, plans to sell 773.33 million new shares, or 22.86 percent of its equity. ($1=31.41 Baht) (Reporting by Saranya Suksomkij; Writing by Viparat Jantraprap; Editing by Ed Cropley)



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