BANGKOK, April 4 Bangkok SkyTrain operator BTS
Group Holdings Pcl is raising about $2.13 billion after
pricing the initial public offering of its infrastructure fund
at the top of a marketing range, sources told Reuters.
The fund, BTS Rail Mass Transit Growth Infrastructure Fund,
sold 5.79 billion units at 10.8 baht each, putting the total
deal at 62.5 billion baht ($2.13 billion), a source with direct
knowledge of the process said. The source was not authorised to
speak publicly about the matter so declined to be identified.
Earlier, BTS Chairman Keeree Kanjanapas told Reuters the IPO
price was likely to be at the high end of indicative range of
10.4-10.8 baht per unit.
The IPO is the biggest ever in Thailand, surpassing the
previous record of $727.6 million by Thai Oil Pcl in
2004, according to Thomson Reuters data going back to 1985.
It is also the largest in Asia this year, followed by the
$1.3 billion Singapore IPO of a Temasek Holdings-backed real
estate investment trust in February.
The SkyTrain is an elevated train system that covers about
23.5 km (14.5 miles) in greater Bangkok. About half of the IPO
proceeds will be used to bid for four new mass transit lines,
BTS has said.