BTS Group, the Bangkok SkyTrain operator has raised nearly US$2.13 billion after the initial public offering of its infrastructure fund. According to sources who spoke on condition of anonymity, the pricing of the shares was at the top of the marketing range for the offer.
The fund is BTS Rail Mass Transit Growth Infrastructure Fund and the units sold amounted to 10.8 baht. The total deal reached 62.5 billion baht or US$2.13 billion.
In an earlier announcement, BTS Chairman Keeree Kanjanapas said that the IPO price was more than likely to reach the higher end of the range set between 10.4 to 10.8 baht per unit. This was told to Reuters a few months back.
This is Thailand's biggest ever IPO according to Thomson Reuters data comparison going back to 1985, bigger even the US$727.6 million sale of Thai Oil Pcl done in 2004. This is also Asia's largest to date, surpassing the Temasek Holdings REIT IPO costing US$1.3 billion.
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