Firm advises on the largest IPO in Thailand so far this year and one of the largest IPOs in Thailand in the past decade.

Latham & Watkins represented TPI Polene Power (TPIPP) in its BHT17,500 million (US$504.9 million) initial public offering of shares on The Stock Exchange of Thailand (SET).

TPIPP is the largest producer of waste-derived power in Thailand and currently operates four plants with a total installed capacity of 150 MW. TPIPP is a subsidiary of TPI Polene Public Company Limited, a listed company engaged in the business of manufacturing and selling cement and low-density polyethylene/ethylene vinyl acetate plastic resin and construction materials.

CIMB Securities (Thailand) Co., Ltd., Maybank Kim Eng Securities (Thailand) Public Company Limited and TISCO Securities Co., Ltd. acted as domestic underwriters, while CIMB Securities (Singapore) Pte. Ltd. and Maybank Kim Eng Securities Pte Ltd. acted as international bookrunners.

The Latham & Watkins team was led by Hong Kong corporate partner Posit Laohaphan with corporate associates Eric Yiu and Diana Dizon.