Asset World nets $1.57bn in record Thai IPO

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By Jonathan Breen
30 Sep 2019

Asset World Corp, the property and hospitality firm, has raised Bt48bn ($1.57bn) from Thailand’s largest IPO by a private company.

The issuer, part of local billionaire Charoen Sirivadhanabhakdi’s TCC Group, sold 8bn shares at a fixed price of Bt6 each. The deal comprised a 6.96bn share base offer and 1.04bn over-allotment option.

Bank of America, Morgan Stanley and UBS ran the international IPO as global co-ordinators, while Bualuang ...

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