The government of Thailand on Tuesday kicked off the retail bookbuild to raise as much as Bt44.7 billion $1.4 billion by selling part of its concession rights in two major expressways. If successful, it could serve as a template for how to raise capital for infrastructure development.
The initial public offering of Thailand Future Fund will be the first attempt by the government to monetise its toll road assets through selling stakes to both institutional and retail investors.
Bangkok said that the proceeds, which account for 2.4% of the country’s total planned transport investment this year, will help reduce the government’s dependence on both the annual budget...
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