BANGKOK/HONG KONG, April 19 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
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.