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The Thai bourse fell 1% in a low-volume and highly volatile trading session.
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The airline expects the shares to begin trading on the Thai bourse on Nov. 3.
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The Thai bourse is closed for a public holiday.
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PTT, the biggest company on the Thai bourse, wants to consolidate its petrochemical and refinery businesses.
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Sena intends to list shares of the subsidiary on the Thai bourse over the next two years, Kessara said.
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The energy-heavy Thai bourse lost 7.5% as oil prices suffered a steep decline.
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The Thai bourse skidded to a three-week low after data showed a 4% slump in exports for August.
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The Thai bourse touched a two-week low as local energy players came under pressure from an overnight tumble in oil prices.
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The Thai bourse slipped 0.7% and was likely to decline for a third consecutive week.
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The Thai bourse inched 0.3% lower, ahead of trade data for December expected later on Thursday.
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The Thai bourse said foreign investors were net sellers of shares over the past four sessions worth a combined $107 million.
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Leading losses in the region, Thai bourse was 0.6% lower as financial and industrial stocks faltered.
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Land & Houses, valued at $1.7 billion on the Thai bourse, mostly caters for the high-end and middle-class market.
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It would have a market value of 260 billion baht ($8.37 billion), making it the 15th largest company on the Thai bourse.
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Thai bourse slipped while data showed inflation rose 0.11% in October from a year earlier, slowing from the previous month and undershooting expectations.
