Thailand's Richest Man Plans $1.5 Billion Property IPO

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Thailand's Richest Man Plans $1.5 Billion Property IPO

By Joyce Koh and Crystal Tse

 

>> Billionaire Charoen aims to list Asset World Corp. next year

>> Tycoon’s TCC Group conglomerate asks banks to pitch for role

 

Thailand’s richest man Charoen Sirivadhanabhakdi is planning an initial public offering of a domestic property business that could raise at least $1.5 billion, people with knowledge of the matter said.

 

The tycoon’s TCC Group conglomerate has asked banks to pitch for a role on the share sale by its Asset World Corp. unit, according to the people. It aims to list AWC in Bangkok next year, the people said, asking not to be identified because the information is private.

 

AWC develops shopping centers and office space in Thailand and has a hospitality business. Its projects include Empire Tower and Interlink Tower in the country’s capital, as well as malls such as O.P. Place, Gateway Ekamai and Centerpoint of Siam Square, according to AWC’s website.

 

Full story: https://www.bloomberg.com/news/articles/2018-10-18/thailand-s-richest-man-is-said-to-plan-1-5-billion-property-ipo

 

-- Bloomberg 2018-10-19

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