Ananda Development prices $182 million Thai IPO

The property developer fixes its price at the bottom of the range and the shares are slated for an early December debut, as the Thai IPO market wraps up a busy year.

Ananda Development is set to raise Bt5.6 billion $182.2 million from its initial public offering in Thailand, after fixing the price at the bottom of the indicative range.

After a week-and-a-half long international roadshow, the IPO priced on Monday. The retail offering starts today November 28 and will continue until Friday, with the listing scheduled for December 7. Of the deal, 57.5% is going to international investors, while the remaining 42.5% is going to domestic investors, according to a term sheet.

The deal attracted demand both from hedge fund and long-only investors in Europe, Hong Kong and Singapore, a source said yesterday. The person added that 60%...

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