Bangkok SkyTrain seeks to raise $1.1b

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Trading room at the Stock Exchange of Thailand

BTS Group Holding, the operator of the Bangkok’s SkyTrain, is planning an initial public offering of a $1.1 billion infrastructure fund at the Thai Stock Exchange in 2013. It would be the biggest IPO in history, surpassing the previous record offering of $727.6 million by Thai Oil in 2004, according to Thomson Reuters data.

Morgan Stanley, Phatra Securities and UBS  have been appointed as joint bookrunners for the IPO.

BTS Group is a public company headquartered in Bangkok. It is the majority share holder of Bangkok Mass Transit System PCL (BTSC), the operator of the elevated mass transit network BTS SkyTrain and the Bangkok Bus Rapid Transit. It also owns related enterprises in advertising, real estate and hospitality. The group is amongst the largest 50 companies in Thailand in terms of market capitalisation.

The company plans to use the proceeds to invest in four additional routes, totaling a further 79 kilometers, which will connect to its core SkyTrain network. The network expansion is expected to cost $4,4 billion.

BTS will retain a 33.3 per cent stake in the fund and has said it is weighing other fundraising options

The listing would add to a number of successful mega-IPOs in Southeast Asia this year. Apart from large listing such as Felda, Astro and IHH Healthcare at the Bursa Malaysia, Thailand also saw a remarkable period at the stock exchange. Launched or planned listings include Tesco Thailand, Ananda Development, Thai Auto Tools Group, Kingsgate Consolidated and WHA Corporation.

According to Stock Exchange of Thailand president Charamporn Jotikasthira, the Thai stock market has set records in 2012, with the SET Index seeing the region’s highest rise of 26.6 per cent and the historical record for its combined market capitalisation of 10.7 trillion baht ($356 billion).

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Reading Time: 2 minutes

Trading room at the Stock Exchange of Thailand

BTS Group Holding, the operator of the Bangkok’s SkyTrain, is planning an initial public offering of a $1.1 billion infrastructure fund at the Thai Stock Exchange in 2013. It would be the biggest IPO in history, surpassing the previous record offering of $727.6 million by Thai Oil in 2004, according to Thomson Reuters data.

Reading Time: 2 minutes

Trading room at the Stock Exchange of Thailand

BTS Group Holding, the operator of the Bangkok’s SkyTrain, is planning an initial public offering of a $1.1 billion infrastructure fund at the Thai Stock Exchange in 2013. It would be the biggest IPO in history, surpassing the previous record offering of $727.6 million by Thai Oil in 2004, according to Thomson Reuters data.

Morgan Stanley, Phatra Securities and UBS  have been appointed as joint bookrunners for the IPO.

BTS Group is a public company headquartered in Bangkok. It is the majority share holder of Bangkok Mass Transit System PCL (BTSC), the operator of the elevated mass transit network BTS SkyTrain and the Bangkok Bus Rapid Transit. It also owns related enterprises in advertising, real estate and hospitality. The group is amongst the largest 50 companies in Thailand in terms of market capitalisation.

The company plans to use the proceeds to invest in four additional routes, totaling a further 79 kilometers, which will connect to its core SkyTrain network. The network expansion is expected to cost $4,4 billion.

BTS will retain a 33.3 per cent stake in the fund and has said it is weighing other fundraising options

The listing would add to a number of successful mega-IPOs in Southeast Asia this year. Apart from large listing such as Felda, Astro and IHH Healthcare at the Bursa Malaysia, Thailand also saw a remarkable period at the stock exchange. Launched or planned listings include Tesco Thailand, Ananda Development, Thai Auto Tools Group, Kingsgate Consolidated and WHA Corporation.

According to Stock Exchange of Thailand president Charamporn Jotikasthira, the Thai stock market has set records in 2012, with the SET Index seeing the region’s highest rise of 26.6 per cent and the historical record for its combined market capitalisation of 10.7 trillion baht ($356 billion).

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