Major Equity Capital transactions in which our lawyers have advised include the following:

IPOs / POs

• Advised on the IPO and listing of Bangkok Lab and Cosmetic


• IPO and listing of Chase Asia, a provider of comprehensive lending, debt collection, and non-performing loan management services


• IPO and listing of i-Tail Corporation, the largest IPO in the food and beverage sector and the second-largest IPO of 2022 in the Thai capital market


• IPO and listing of TDCX Inc., a provider of digital customer experience solutions, of American depositary shares representing Class A ordinary shares on the New York Stock Exchange


• IPO and listing of Clover Power


• IPO and listing of Bangkok Commercial Asset Management (BAM), the largest IPO of a financial group in Thailand as well as Southeast Asia. The deal was subsequently awarded the “Deal of the Year 2020” by the Stock Exchange of Thailand


• IPO and listing of SAAM Energy Development


• IPO and listing of Banpu Power, which at the time was the largest IPO since 2014 and the largest market capitalisation since 2004


• Public offering of treasury shares and private placement by GMM Media


• Public offering of Shin Satellite (Thaicom)


• Initial Public Offering of Airports of Thailand, involving employee share offering prior to the IPO, with an over-allotment option


• International Placement of Thoresen Thai Agencies


• International and domestic offering of Bangkok Bank


• Advised Krung Thai Bank on its privatisation via a domestic public offering and international placement of the Financial Institutions Development Fund, with an over-allotment option


• Initial Public Offerings of Symphony Communication, Nation Broadcasting Corporation and Nation International Edutainment


• Placement of new shares in Bumrungrad Hospital following the conversion of convertible bonds by Bangkok Bank


• Advised on the sale of shares in CP Seven-Eleven by Thaivest (a GIC group company) as part of an IPO by CP Seven-Eleven


• International offering of new shares in Univentures


• Domestic public offering of Krungthai Card


• Limited International Offering of Thai Union Frozen Products

Equity Offerings

• Rights offerings of shares and warrants of THB 29.6 billion by Banpu


• Advised Principal Capital, one of the leading players in Thailand’s healthcare industry, in connection with an investment by RATCH Group under the General Mandate Scheme


• Advised Christiani & Nielsen on its capital increase by way of general mandate


• Rights offerings of shares and warrants of THB 12.85 billion by Banpu


• Rights Offerings of THB 11 billion by Banpu Power


• Rights offerings of shares and warrants and a private placement by Power Solution Technologies (PSTC)


• Right Offerings of Thai Industrial Engineering Services


• Debt and Capital Restructures of G Steel and G J Steel


• Recapitalisation of Nation Group, comprising Nation Multimedia Group, Nation Broadcasting and Nation International Edutainment


• General Mandate by Bangkok Dusit Medical Services


• General Madate by Principal Capital

Property Funds and REITS

• Advised TIP Holding, a sponsor and owner of TIP9 premium warehouse and factory project located in TIP Industrial Project, in connection with the investment by Frasers Property Thailand Industrial Freehold & Leasehold REIT in its land and warehouses


• Assisted LH Mall & Hotel in the additional investments by LHHOTEL REIT in Grande Centre Point Space Pattaya Hotel and Grande Centre Point Pattaya Hotel through a combination of fundraising by LHHOTEL via an offering of newly issued trust units and debt financing


• Advised LH Mall & Hotel on the additional investment in Grand Centre Point Hotel Sukhumvit 55 and relevant fundraising through public offering by LH Hotel Leasehold Real Estate Investment Trust


• Advised LH Mall & Hotel on the establishment and IPO of LH Hotel Leasehold Real Estate Investment Trust and its investments in Grande Centre Point Hotel Ratchadamri


• Advised LH Mall & Hotel on the establishment and IPO of L&H Shopping Centers Real Estate Investment Trust, the first ever REIT of Terminal 21 shopping mall in Thailand, and its subsequent long term lease


• Advised on the establishment and IPO of CPN Commercial Growth Leasehold Property Fund


• Advised on the establishment and IPO of Quality Houses Hotel and Residence Freehold and Leasehold Property Fund


• Advised LH Mall & Hotel on the establishment and IPO of Land and Houses Freehold and Leasehold Property Fund in Centre Point and Grande Centre Point hotels and apartments in Thailand


• Advised on a number of public offerings of CPN Retail Growth Leasehold Property Fund


• Advised Central Plaza Hotel in relation to the IPO and listing of Centara Property Fund


• Advised on the IPO of Quality Houses Property Fund

Block Trade

• Block trade transaction by Credit Suisse (Singapore) in IRPC held by the Government Pension Fund of Thailand


• Block trade transaction by a group of shareholders of their shares in Sriracha Construction


• Disposal by GE Capital in the Bank of Ayudhaya via a block trade to domestic and international institutional investors


• Block trade in BEC World

ESOP

• Regularly assist BlueScope Steel and Telstra Corporation in connection with the post-offering obligations in Thailand of their respective global employee stock option plan

Others

• Advised Oaktree on its investment as one of the cornerstone investors in the IPO and listing of Thai Life Insurance


• Advised Stonehenge Inter on its transfer from being listed on the Market for Alternative Investment (MAI) board to the main board of the Stock Exchange of Thailand


• Advised on the delisting tender offer of Capital Nomura Securities by Nomura Group


• Advised CS LoxInfo on a voluntary delisting of its securities from the SET


• Listing by Weiye Holdings on the Hong Kong Stock Exchange (involved in relation to its Thai subsidiary)


• Migration of securities issued by Apex International from Taiwan’s GreTai Securities Market to the Taiwan Stock Exchange (involved in relation to its Thai subsidiary)


• Initial Public Offering and Listing of Boyaa Interactive International on the Hong Kong Stock Exchange


• Issue and offering of NVDRs by Bangchak Petroleum