White & Case and Thai law firm Weerawong, Chinnavat & Peangpanor are advising conglomerate BTS Group Holdings Pcl., which operates Bangkok’s SkyTrain mass transit network, on a $2 billion initial public offering for a new infrastructure fund.
Linklaters Singapore partner Arun Balasubramanian and Bangkok partner Wilailuk Okanurak are acting for underwriters Morgan Stanley & Co. International Plc., UBS AG and Thailand’s Phatra Securities Pcl.
The company is selling 5.8 billion units of its BTS Rail Mass Transit Growth Infrastructure Fund at between $0.35 and $0.37 in a deal slated to be Thailand’s biggest ever public offering, if successful.
The IPO is expected to close and shares to begin trading on the Stock Exchange of Thailand in mid-April.
BTS Group will use the funds raised in order to invest in new mass transit projects, as the company seeks to benefit from a Thai government plan to expand Bangkok’s mass transit rail network to 316 miles by 2029 from just 50 miles today.
Email: tbrennan@alm.com.
