Starting news article english 17 April 2013

Clifford Chance advises on biggest Thailand IPO BTS Rail Mass Transit Growth raises US$1.4 billion

Hong Kong, Bangkok: Leading international law firm Clifford Chance has advised BBL Asset Management Company Limited (BBLAM), as the management company of BTS Rail Mass Transit Growth Infrastructure Fund (BTSGIF), on BTSGIF's US$1.4 billion (Bt41.5 billion) IPO, the biggest listing ever in Thailand and the first IPO of an infrastructure fund in Thailand. BTSGIF sold 3.86 billion units at Bt10.80 each comprising 66.7% of the fund. BTS Group bought the remaining 33.3%, bringing the total fundraising to US$2.1 billion.

Partner Crawford Brickley, Head of Capital Markets for Asia Pacific said, "We were delighted to assist BBLAM on this groundbreaking IPO which was almost twice the size of the previous largest IPO in Thailand of US$784 million."

Managing Partner of the Bangkok office, Fergus Evans said, "We were very pleased to assist on the first IPO of an infrastructure fund in Thailand. The surge in infrastructure projects in South East Asia presents a lot of opportunities for investors and infrastructure funds are a good vehicle for tapping into this growth."

Crawford and Fergus were assisted by counsel Doungporn Prasertsomsuk and Keerati Kanjanawenich in Bangkok and Thomas Kollar in Hong Kong.