The initial public offering of the infrastructure fund of the BTS Group has begun with pre-marketing conducted to raise US$1 billion. This would prove to be Thailand's largest IPO on record and the very first infrastructure fund should it prove to be a success.
The pre-marketing is scheduled to continue until the middle of March which would soon be followed by a roadshow and retail subscription. The trading of the IPO is expected to begin by mid or late April 2013.
The BTS Group would be operating the Bangkok SkyTrain system as well as interests in property, media and services businesses along the route it operates.
The fund is called the BTS Rail Mass Transit Growth Infrastructure Fund or BTSGIF and its assets would be the revenue from ticket sales of the mass transit system. The group would operate the trains and would manage a third of the total fund.
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