Bangkok SkyTrain fund sets $1.4 billion Thai IPO record

The infrastructure fund prices its offering at the top of the range in Thailand’s biggest ever IPO.

Bangkok SkyTrain fund sets $1.4 billion Thai IPO record

BTS Group’s infrastructure fund has raised Bt41.7 billion $1.4 billion from yield-hungry investors, becoming the first initial public offering of an infrastructure fund in Thailand and the biggest IPO ever in the country.

Investors continue to show appetite for defensive vehicles such as real estate investment trusts Reits, and yield was a big part of this deal’s attraction. The fund, which is called BTS Rail Mass Transit Growth Infrastructure Fund BTSGIF, fixed...

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