BTS insists IPO on track despite poor performance

Bangkok Mass Transit System says its IPO remains on target to get away in the second half of this year despite weaker-than-expected take-up since its December launch.

Bangkok Mass Transit System BTS plans to proceed with an initial public offering IPO of 200-400 million new shares in the second half of 2000. It aims to raise as much as Bt9.6 billion $247 million. The company denies it may delay the fundraising exercise after a slower-than-expected take-up for its elevated commuter train service, Skytrain, which commenced operations above Bangkok's congested streets in December 1999.

The listing should be this year, the third or fourth...

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