Bankers started pre-marketing on Friday for an initial public offering of BTS Group’s infrastructure fund, which is aiming to raise about $1 billion. If successful, it will be the country’s first infrastructure fund, as well as its biggest IPO on record.
According to the current timetable, pre-marketing is expected to continue globally until mid-March, followed by a management roadshow and retail subscription, a source said on Friday. Trading is expected to start sometime in mid- to late-April.
BTS Group operates the SkyTrain system in Bangkok and is engaged in property, media and services businesses along its mass-transit routes.
The fund is called BTS...