Thai telco Jasmine International has raised Bt36.7bn (US$1.13bn) from selling two-thirds of its infrastructure fund through an IPO.
The company told Thailand’s stock exchange that it priced 5,500 million units at Bt10 each, valuing the fund at Bt55bn…
Thai telco Jasmine International has raised Bt36.7bn (US$1.13bn) from selling two-thirds of its infrastructure fund through an IPO.
The company told Thailand’s stock exchange that it priced 5,500 million units at Bt10 each, valuing the fund at Bt55bn (US$1.7bn).
That price just beats the US$1.8bn that local telco True Corp raised in its infrastructure listing back in December 2013.
Jasmine, which will use proceeds to expand its high-speed broadband network, hired Bualuang Securities as financial adviser and bookrunner on its IPO. Morgan Stanley was reportedly also a bookrunner.
The Jasmine Broadband Internet Growth Infrastructure Fund will start trading on the country’s stock exchange on 16 February.