Firm advises issuer on the largest IPO in Thailand and one of the few sizable IPOs in Southeast Asia in 2016.

Latham & Watkins represented Banpu Power Public Company Limited (“Banpu Power”) in its initial public offering of ordinary shares on The Stock Exchange of Thailand (SET). The initial public offering included a public offering in Thailand, a Rule 144A/Regulation S international offering, an offering to cornerstone investors and an entitlement shares offering to shareholders of Banpu Power’s parent company, Banpu Public Company Limited. Priced at THB21 per share, the top of the indicative price range, the offering raised THB13.6 billion (approximately US$390 million) and is the largest IPO in Thailand in 2016. Banpu Power is one of Asia’s leading energy companies and operates both conventional and renewable power businesses across Asia, including Thailand, Lao PDR, China and Japan.

Credit Suisse, CIMB and The Quant Group acted as international lead managers, and Bualuang Securities, Thanachart Securities and Kasikorn Securities acted as domestic lead managers.

“We are proud to have advised Banpu Power on its successful IPO in Thailand, and to have helped deliver what will be one of Southeast Asia’s biggest listings this year. Our combination of local expertise in Thailand, strong experience in capital markets and industry knowledge in the energy sector was key to help us to bring this IPO to fruition,” said Posit Laohaphan, Global Co-chair of the Financial Institutions Industry Group.

The Latham & Watkins capital markets team was co-led by Hong Kong partner Posit Laohaphan and Singapore partner Michael Sturrock with Hong Kong associates Eric Yiu and Diana Dizon.