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Thailand Future Fund is due to announce a timeline for its long-delayed listing next week, as it gets ready to kick off bookbuilding in mid-October.
The state-owned infrastructure trust’s IPO, which has been in the works for several years, will be launched around the middle of next month. The final dates will be decided by next week, said a banker on the deal.
TFF is now in the investor education phase. Finansa Securities, Krung Thai Bank and Phatra Securities are leading the float domestically alongside Bank of America Merrill Lynch and JP Morgan as international underwriters.
The issuer disclosed in a filing to the Thai bourse that it plans to raise Bt41bn ($1.3bn) to Bt46bn from the IPO with an expected dividend yield of 4.8% to 5.3%.
The proceeds will be used to fund the construction of expressways. The Thai government envisions TFF as an alternative financing vehicle to help boost...