HONG KONG, March 15 (Reuters) - 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 time.
BTS on Friday filed a prospectus for the up to $2.1 billion IPO, but the document did not include the names of the cornerstones.
The fund will likely yield between 6 percent to 6.2 percent, the source said.