HONG KONG, March 15 Bangkok skytrain operator
BTS Group Holdings Pcl has received commitments worth
$850 million from 20 cornerstone investors for Thailand's
biggest initial public offering, a source with direct knowledge
of the plans told Reuters on Friday.
The investors in the infrastructure fund IPO include insurer
AIA Group Ltd, hedge fund Azentus Capital Management
and global asset managers Fidelity and Capital Research and
Management, added the source, who was not authorized to speak
publicly on the matter.
Cornerstone investors receive guaranteed allocation in
exchange for agreeing to retain their stakes for a set amount of
BTS on Friday filed a prospectus for the up to $2.1 billion
IPO, but the document did not include the names of the
The fund will likely yield between 6 percent to 6.2 percent,
the source said.