Ananda Development eyes Thai IPO of up to $250 million

The founding family of the Thai property developer is aiming to raise the company's free-float to 40% through an offering of new shares.
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Ananda Development builds condominiums close to prime transport hubs
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<div style="text-align: left;"> Ananda Development builds condominiums close to prime transport hubs </div>

Bankers started investor education yesterday for Ananda Development, a property developer that is aiming to raise $200 million to $250 million from an initial public offering in Thailand. The listing is scheduled for early December.

The deal comes amid a pick-up in IPO activity in Thailand. So far this year there have been 16 IPOs, which have raised a combined $1.39 billion, according to Dealogic. That compares with eight deals that raised a total of $259 million during the same period last year.

The biggest offering this year was by a property fund backed by UK supermarket chain Tesco, which raised Bt18.4 billion $602 million in...

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