BTS Group's fund surges 17.6 pct in debut after record Thai IPO

BANGKOK/HONG KONG, April 19 Thu Apr 18, 2013 11:11pm EDT

BANGKOK/HONG KONG, April 19 (Reuters) - BTS Group Holdings PCL's infrastructure fund rose 17.6 percent in its trading debut on Friday as Thailand's biggest initial public offering underscored demand from yield-hungry investors amid a flurry of listings in Southeast Asia.

The BTS Rail Mass Transit Growth Infrastructure Fund climbed to 12.70 baht in early trading from the 10.8 baht per unit IPO price. Shares of BTS Group, the operator of Bangkok's traffic-busting elevated Skytrain, rose 1.6 percent, while the benchmark SET index was up 0.3 percent.

Morgan Stanley, Phatra Securities and UBS acted as joint bookrunners for the IPO. The banks stand to earn about $30 million in fees from the deal, equivalent to 2.15 percent of the total raised excluding the sponsor tranche.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

California state worker Albert Jagow (L) goes over his retirement options with Calpers Retirement Program Specialist JeanAnn Kirkpatrick at the Calpers regional office in Sacramento, California October 21, 2009. Calpers, the largest U.S. public pension fund, manages retirement benefits for more than 1.6 million people, with assets comparable in value to the entire GDP of Israel. The Calpers investment portfolio had a historic drop in value, going from a peak of $250 billion in the fall of 2007 to $167 billion in March 2009, a loss of about a third during that period. It is now around $200 billion. REUTERS/Max Whittaker   (UNITED STATES) - RTXPWOZ

How to get out of debt

Financial adviser Eric Brotman offers strategies for cutting debt from student loans and elder care -- and how to avoid money woes in the first place.  Video