Thailand

Strong demand for Bangkok Bank’s dollar-denominated Basel III-compliant tier two transaction allowed Thailand’s largest lender to sell a bigger deal at a tighter price than expected, writes Addison Gong.

Thai real estate owner and developer Asset World Corp has hit the market with a Bt41.7bn ($1.36bn) IPO, set to be the country’s largest listing by a private company, according to a term sheet seen by GlobalCapital Asia.

Indorama Ventures Public Co sold its first dollar bond on Thursday. While unrated, the company’s rarity value appealed with investors.

Thailand’s largest block trade in six years has seen Singaporean state-owned investment fund Temasek Holdings bagging more than $500m from a sale of Intouch Holdings stock. The vendor took advantage of a surge in the Intouch’s stock price and plans to return and clean up its remaining stake. Jonathan Breen reports.

Frasers Property (Thailand) has raised Bt3.26bn ($105.8m) after selling a chunk of new stock, pricing the block at the top of guidance.

Thailand’s Jasmine Broadband Internet Infrastructure Fund is planning to raise up to Bt38bn ($1.2bn) through a rights issue.

Thai natural rubber company Sri Trang Agro Industry approved a spin-off of its gloves production unit at a board of directors meeting this week.

Thailand saw a burst of block trades this week as Singapore’s sovereign wealth fund cleaned up its position in local property developer Land & Houses and BTS Group Holdings sold a chunk of VGI Global Media stock.

HSBC has appointed Alexander Malloch as head of its international subsidiary banking (ISB) business in Thailand.

Singapore’s sovereign wealth fund GIC has bagged Bt9.1bn ($290.7m) after offloading its position in Thai property developer Land & Houses, according to a source close to the deal.

The Export-Import Bank of Thailand played to investors’ need for diversity on Wednesday, marketing a $300m-capped transaction at a very tight rate.

Are Asian investors ready to embrace duration again? Oil India and Siam Commercial Bank (SCB) proved there is clear demand, rolling out a pair of 10 year bonds on Tuesday. SCB also added a five year tranche.