BTS Group plans Thailand's largest IPO with $2.1 bln fund
BANGKOK/HONG KONG, March 15
BANGKOK/HONG KONG, March 15 (Reuters) - Bangkok skytrain operator BTS Group Holdings Pcl filed on Friday a prospectus for Thailand's biggest initial public offering, hoping to raise up to $2.1 billion with an infrastructure fund to expand into new rail concessions.
The fund will offer 5.79 billion units in an indicative range of 10.4-10.8 baht each, making the total deal worth up to 62.5 billion baht ($2.11 billion), the prospectus showed.
BTS has said it will buy one-third of the units on offer, with total proceeds from the IPO set aside to invest in new projects, including potential bids on four mass transit routes in Bangkok covering almost 80 kilometres of rail lines.
The IPO would be the biggest on record in Thailand, according to Thomson Reuters data going back to 1985, surpassing the previous high of $727.6 million by Thai Oil Pcl in 2004.
Morgan Stanley, Phatra Securities and UBS were hired as joint bookrunners for the IPO.
- Obama unveils U.S. immigration reform, setting up fight with Republicans |
- Officials make preparations for Ferguson grand jury decision |
- More arrests as protesters await Ferguson grand jury decision
- U.S., Iran discussing new ideas to break nuclear impasse: sources
- 'Immoral, but not illegal': metal warehousing games in the spotlight