Bangkok Mass Transit System BTS plans to proceed with an initial public offering IPO of 200-400 million new shares in the second half of 2000. It aims to raise as much as Bt9.6 billion $247 million. The company denies it may delay the fundraising exercise after a slower-than-expected take-up for its elevated commuter train service, Skytrain, which commenced operations above Bangkok's congested streets in December 1999.
The listing should be this year, the third or fourth quarter, says Chief Financial Officer Vichet Bunthuwong. At the moment, the company and its adviser, Salomon Smith Barney, are awaiting regulatory approvals, which should be granted in mid-July.
Of the proceeds, a minimum...
