Bangkok SkyTrain fund to raise up to $1.4 billion from public investors

Cornerstones have already committed to invest at least $818 million in what looks set to become Thailand’s largest IPO ever.

Bangkok SkyTrain fund to raise up to $1.4 billion from public investors
The infrastructure fund is backed by ticket sales on Bangkok’s SkyTrain system

The institutional bookbuilding will kick off today for Thailand’s first infrastructure fund IPO, but sources say a large portion of the deal has already been sold to 20 cornerstone investors.

Based on the indicated price range, BTS Rail Mass Transit Growth Infrastructure Fund BTSGIF is seeking to raise between Bt40.04 billion and Bt41.58 billion $1.35 billion to $1.4 billion from public investors, according to sources who were citing a prospectus filed with the Thai...

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