Bangkok Skytrain delays mega-IPO

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SkytrainThe operator of Bangkok’s Skytrain, BTS Group Holding, has said it needs to delay the initial public offering of its $2 billion infrastructure fund due to slow approval procedures by the Securities and Exchange Commission (SEC) of the Thai Stock Exchange.

Originally planned for February, the actual IPO date is now unclear.

“It should not be done in February because we still need approval from the SEC,” Chief Operating Officer Surapong Laoha-Unya told reporters.

BTS had said it planned to raise up to $2.01 billion from an initial public offering of the infrastructure fund in February as it needs funds for expanding mass transit lines. It would be the largest IPO in Thailand among a large number of planned IPOs this year. It would also be the first fund structure allowed to be listed on the Thai Stock Exchange.

BTS Group has also recently announced that fares on the Skytrain network will rise due to higher costs for maintenance and energy.

 

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Reading Time: 1 minute

The operator of Bangkok’s Skytrain, BTS Group Holding, has said it needs to delay the initial public offering of its $2 billion infrastructure fund due to slow approval procedures by the Securities and Exchange Commission (SEC) of the Thai Stock Exchange.

Reading Time: 1 minute

SkytrainThe operator of Bangkok’s Skytrain, BTS Group Holding, has said it needs to delay the initial public offering of its $2 billion infrastructure fund due to slow approval procedures by the Securities and Exchange Commission (SEC) of the Thai Stock Exchange.

Originally planned for February, the actual IPO date is now unclear.

“It should not be done in February because we still need approval from the SEC,” Chief Operating Officer Surapong Laoha-Unya told reporters.

BTS had said it planned to raise up to $2.01 billion from an initial public offering of the infrastructure fund in February as it needs funds for expanding mass transit lines. It would be the largest IPO in Thailand among a large number of planned IPOs this year. It would also be the first fund structure allowed to be listed on the Thai Stock Exchange.

BTS Group has also recently announced that fares on the Skytrain network will rise due to higher costs for maintenance and energy.

 

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