True Corp infrastructure fund begins IPO pre-marketing

18 Nov 2013

An infrastructure fund established by Thai quadruple-play telecoms group True Corp has launched pre-marketing for an initial public offering (IPO) with the aim of raising at least USD1.6 billion, reports Reuters citing IFR. True Telecommunications Growth Infrastructure Fund is offering an indicative yield of 6.4% to 8.5% in 2014, and is targeting a market capitalisation of between THB60 billion to THB80 billion (USD2.53 billion). True Corp will own 18% of the fund after it is listed. Further details will be decided at the end of pre-marketing on 3 December. Credit Suisse and Siam Commercial Bank are the joint global coordinators and the joint bookrunners with Bank of America Merrill Lynch and UBS, while Standard Chartered is the lead manager.

Thailand, True Corp