BTS Group eyes $1 billion IPO of Thailand’s first infrastructure fund

The BTS SkyTrain operator’s infrastructure fund is expected to start trading in April, and could open the door for further issuance.
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BTS SkyTrain: Cashflows from ticket sales will be injected into the fund
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<div style="text-align: left;"> BTS SkyTrain: Cashflows from ticket sales will be injected into the fund </div>

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...

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