Kudun and Partners advise two Thai realty IPOs

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Thai law firm Kudun and Partners advised property developer Assetwise’s business restructuring and THB1.28 billion (US$40.7 million) IPO on the Stock Exchange of Thailand (SET). The company’s share price jumped 20% on debut.

The Bangkok-based firm also represented construction company Prosper Engineering in its listing on the Market for Alternative Investment, a stock exchange established by the SET as an alternative for small and medium-sized enterprises. The IPO raised THB270 million (US$ 8.62 million).

Both transactions were led by partner Kom Vachiravarakarn. Senior associate Supatra Kerinsaguna and associate Viparat Timprathuang assisted in Assetwise deal, and associate Chayada Pichayakorn assisted in the Prosper Engineering listing.

“We anticipate a resurgence in IPOs this year as many companies that have delayed listing on the SET last year are likely to offer shares due to renewed market interest,” Vachiravarakarn told Asia Business Law Journal.