TOP shares rise 5.24% on strong refining margins, ADNOC deal hopes

M&A · PartnershipCorporate Action
โดย Kaohoon·THAE·Read original
Summary · why it matters

Thai Oil (TOP) shares continued to rise by 5.24% to 70.25 baht, despite the ex-dividend date, driven by buying on expectations of strong refining margins and the possibility of a new strategic partner. CLSA has selected TOP as a top pick in the Thai stock market. Meanwhile, ADNOC, the Abu Dhabi national oil company, is in talks to invest in a major Thai refinery, which could include a crude supply agreement and offtake of finished products to expand export markets. If the collaboration materializes, it is expected to enhance TOP's crude supply security, particularly for its Clean Fuel Project, and open opportunities to expand beyond Southeast Asia. However, the talks are still at an early stage with no conclusion yet. TOP has approved a dividend of 1.40 baht per share, with the ex-dividend date on September 9 and payment on September 24.

Impact on stocks 1

Energy Transition & Power Demand▲ · 1 stocks
Thai Oil Public Company Limited
TOP
▲ PositiveDemandCapitalrelevance

ADNOC in talks to invest in a major Thai refinery, potentially including crude supply and offtake of finished products, boosting TOP's supply security and export reach.

Off-coverage companies 1

Abu Dhabi National Oil Company (ADNOC)Private± Mixed
Capitalrelevance

ADNOC is in early-stage talks to invest in a major Thai refinery, with no conclusion yet.

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