Kata Rocks
THE PAVILIONS PHUKET BRITISH INTERNATIONAL SCHOOL, PHUKET Kata Rocks
The Phuket News Novosti Phuket Khao Phuket

Login | Create Account | Search


Billionaire mulls what may be Thailand’s largest IPO in 2019

Billionaire mulls what may be Thailand’s largest IPO in 2019

BANGKOK: Asset World Corp will start gauging foreign investor demand for what could be one of Thailand’s biggest initial public offerings this year after the nation’s securities regulator approved the sale, according to people familiar with the matter.

economics
By Bangkok Post

Tuesday 27 August 2019, 09:43AM


Charoen Sirivadhanabhakdi and his wife Khunying Wanna Sirivadhanabhakdi in 2017. Photo: Supplied via Bangkok Post

Charoen Sirivadhanabhakdi and his wife Khunying Wanna Sirivadhanabhakdi in 2017. Photo: Supplied via Bangkok Post

The property arm of billionaire Charoen Sirivadhanabhakdi, the nation’s fourth-richest person, will meet investors in Singapore this week after kicking off with potential Thai investors on Aug 23, said the people, who asked not to be identified. The developer of hotels, shopping malls and office buildings aims to raise US$1 billion to $1.5bn, they said.

With such a fundraising target, Asset World would be the biggest IPO in Thailand since Thailand Future Fund’s $1.4bn IPO last year. The company’s new share sale will help finance its business expansion, particularly the construction of new hotels, it said in June.

Details of the share sale including timeline and fundraising size could still change, the people said. Asset World’s Chief Executive Officer Wallapa Traisorat couldn’t be reached for comment after calls to her office. And an external representative for Asset World didn’t immediately respond to an email seeking comment.

Thailand’s largest IPO on record was that of BTS Rail Mass Transit Growth Infrastructure Fund, which raised $2.1bn in 2013, data compiled by Bloomberg show. Companies have raised $720 million in Thai IPOs this year, up from the $406mn raised in the same period last year. The planned share sales by Asset World and Central Group could make 2019 a busy year for IPOs in Thailand, with political risk eased after a March national election.

Thai Residential

The Securities & Exchange Commission approved Asset World’s IPO on Aug 23, more than two months after it submitted the application, according to the regulator’s website. Mr Charoen’s net worth is valued at $17.6bn, according to Bloomberg Billionaires Index.

 

Read original story here.

Comment on this story

* Please login to comment. If you do not have an account please register below by simply entering a username, password and email address. You can still leave your comment below at the same time.

CAPTCHA

Be the first to comment.

Have a news tip-off? Click here

 

Phuket community
Mother holds out hope for daughter missing on kayak

Regarding Editors reminder: It's funny that the serial poster can spill his derision about all k...(Read More)


Phuket Opinion: Gasping for marine safety

But you allow posts where Phuket Marine Office is blamed as useless and not funktional at all in gen...(Read More)


Officials tackle untreated wastewater pouring into Ao Yon bay

How long will the submitting process take? Than, next, how long before the budget is granted? Than g...(Read More)


Trailer flips, blocks Phuket major highway after alleged tire explosion

Khun Fascinated. I was just asking 2 questions. You answered 1 ( 5 feet high only). Than still t...(Read More)


Mother holds out hope for daughter missing on kayak

Just a reminder to all people posting comments on any stories here... We will try to allow comments ...(Read More)


FFP faces legal strife over rally

The outside world is watching with interest how the 'new' thai Government tries to curb free...(Read More)


Trailer flips, blocks Phuket major highway after alleged tire explosion

Comment blocked yet again Mr Ed? Just a reminder to all people posting comments on any stories he...(Read More)


Phuket Opinion: Gasping for marine safety

K..., if you realy want to start stopping useless things just start to stop your useless comments fi...(Read More)