Thai Rail Co. Raises $2B In Record-Breaking IPO

Law360, Los Angeles (April 5, 2013, 6:44 PM EDT) -- Bangkok rail operator BTS Group Holdings PCL announced Friday that it had raised a staggering $2.1 billion through the initial public offering for its infrastructure fund, scoring the biggest-ever IPO for a Thai company.

The company told the Stock Exchange of Thailand that it sold nearly 5.8 billion units in its BTS Rail Mass Transit Growth Infrastructure Fund at the high-end per unit price of 10.80 baht, or 37 cents. The IPO total was 62.51 million baht, or $2.1 billion.

BTS Group said it will use...
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