NEW YORK — Hunton & Williams LLP advised two Thai companies, Siamraj Public Company Limited and WHA Corporation Public Company Limited, in their respective initial public offerings.
Natural gas engineering and transmission firm Siamraj’s IPO began trading on the MAI on November 11, and the share price rose from 3.5 Thai baht to 5 baht at the opening of the trading.
The firm represented Krung Thai Asset Management Public Company Limited in its capacity as a REIT trustee for the launch of WHA Business Complex Freehold and Leasehold Real Estate Investment Trust (WHABT), which began trading on the SET on November 16. The IPO establishes Thailand’s first-ever office building REIT, worth about 4 billion baht ($111.1 million). WHABT initially acquired land and buildings of the Bangna Business Complex and SJ Infinite 1 Business Complex project, which has a combined total floor area of about 52,765 square meters and 30,251 square meters in leasable space.
The Hunton & Williams team was led by Chinawat Assavapokee in Bangkok and includes Bangkok attorneys Veerachai Chuenchompoonut, Saravut Krailadsiri, Bongkotkan Chumsai Na Ayudhya, Suphadet Phutthithanakorn, Jugkrid Danchalermnon, and Jantima Gawbansiri, as well as lawyer assistants Phataraphol Worachat, Varisa Soponpis, Wichaya Apiratkasem and Peerapat Yensudchai.