State - owned oil and gas firm PTT will acquire a 9.54 % stake in oil refiner IRPC , owned by Thailand 's Government Savings Bank , for THB13.85bn ( $ 439.26 m ) . The acquisition will increase PTT 's holdings in ##dices to 45.05 % , while a strong investment from the latter firm helped boost PTT 's annual profits by 43 % . Shares in ##dices rose about 6 % after the completion of the acquisition .
State-owned oil and gas firm PTT will acquire a 9.54% stake in oil refiner IRPC, owned by Thailand's Government Savings Bank, for THB13.85bn ($439.26m). The purchase will increase PTT's holdings in IRPC to 45.05%, while a strong performance from the latter firm helped boost PTT's annual profits by 43%. Shares in PTT rose about 6% following the announcement of the acquisition.