PTT Said to Approach Banks as It Weighs Retail Business IPO

PTT Pcl, Thailand’s biggest energy company, has approached potential advisers as it weighs options including an initial public offering for its retail business, people with knowledge of the matter said.

PTT has reached out to banks to solicit proposals for advising on a deal, said the people, who asked not to be named discussing private deliberations. An IPO of the unit, which operates PTT’s service stations, could raise more than $2 billion, they said.