Thailand

Singapore sovereign investor GIC pocketed Bt3.6bn ($110m) over the weekend after selling the last of its stake in Thailand’s Quality Houses through a block deal.

Thailand’s Gulf Energy Development Co priced its IPO at the top of guidance this week, raising Bt23.9bn ($730.4m) from the largest corporate listing in the country in more than a decade. The deal was swamped with orders, reflecting investors’ eagerness to look beyond Asia’s developed markets for better returns, writes Jonathan Breen.

Thailand’s Gulf Energy Development Co has priced its IPO at the top of guidance, raising Bt23.9bn ($730.4m) from the largest corporate listing in the country in over a decade.

Thailand’s state-owned energy giant PTT cashed in its stake in Star Petroleum Refining this week, using a clean-up block trade to raise Bt3.71bn ($112.2m), according to a source close to the deal.

Thailand’s Gulf Energy Development Public Co has kicked off bookbuilding for a potential Bt23.9bn ($726.3m) IPO, set to be the largest listing in the country in nearly three years.

Siam Commercial Bank closed its second dollar deal of the year on Thursday, leveraging on its rarity value as a Thai credit in the debt market, while also navigating a surprise hiccup near the end of bookbuilding.

Thailand’s Kasikornbank has mandated banks for a planned dollar bond, to be issued through its Hong Kong branch.

Thailand’s Siam Commercial Bank is courting investors for a dollar bond, to be sold through its Cayman Islands branch, while China Minsheng Banking Corp is also marketing a transaction through its Hong Kong arm.

Gulf Energy Development Public Co is drumming up interest for its IPO to raise around $500m, with the launch expected later this month.

The head of Thailand’s Bond Market Association tells GlobalMarkets about the potential of blockchain and wider market reforms to increase trading efficiency and help expand the size of its corporate debt market

The Lao People’s Democratic Republic, through the Ministry of Finance, raised Bt14bn ($420m) this week from a six-tranche bond in Thailand — its largest ever print. The sovereign also managed to push out its curve to an unprecedented 15 years, leveraging on Thai investors’ familiarity with its credit.

Thailand’s TOA Paint has raised Bt12.2bn ($363.9m) from an IPO that was flooded with demand from foreign and domestic investors, driving pricing to the top of guidance.