Praised for its capability ‘to professionally manage complex transactions and provide solutions to clients’, Allen & Overy (Thailand) Co, Ltd’s capital markets team is led by managing partner Suparerk Auychai, who advises on capital markets transactions across the oil and gas, financial services and consumer retail sectors, and Sarah Wilson. Working domestically and internationally, the practice covers the full spectrum of equity and equity-linked mandates, including IPOs, secondary offerings and block trades, as well as convertible and exchangeable bonds, corporate governance and compliance issues. Counsel Doungporn Prasertsomsuk’s ‘extensive knowledge and experience’ shines through when advising on debt capital market transactions, while Noparat Kaewsringarm is noted for her expertise in IPOs, rights offerings, private placements and block trades.
Capital markets in Thailand
Allen & Overy (Thailand) Co, Ltd
Responsables de la pratique:
Suparerk Auychai; Sarah Wilson
Autres avocats clés:
Noparat Kaewsringarm; Doungporn Prasertsomsuk; Anchalee Limviriyalers; Stephen Jaggs
Les références
‘Allen & Overy’s knowledge, experience and expertise are their top qualities.’
‘Doungporn’s extensive knowledge and experience has contributed to success in many transactions.’
‘Allen & Overy’s strengths are, among others, their knowledge and expertise, their analytical skills and ability to professionally manage complex transactions and provide solutions to clients.’
Principaux clients
Bank of America Merrill Lynch / BofA Securities, Inc.
JPMorgan Chase & Co.
Morgan Stanley
Bualuang Securities Public Company Limited
Finansa Securities Public Company Limited
Kasikorn Securities Public Company Limited
Kiatnakin Phatra Securities Public Company Limited
TISCO Securities Company Limited
UBS AG’s Singapore Branch
SCB Securities Co., Ltd.
Thai Life Insurance Public Company Limited
Indorama Ventures Public Company Limited
Bank of Ayudhya Public Company Limited
PTT Exploration and Production Public Company Limited
PTT Public Company Limited
United Overseas Bank (Thai) Public Company Limited
Phahonyothin Asset Management Co., Ltd.
Banpu Public Company Limited
Bangkok Bank Public Company Limited
Credit Guarantee and Investment Facility
Principaux dossiers
- Acting as Thai and international counsel to the issuer in connection with the proposed initial public offering of Thai Life Insurance Public Company Limited on the Stock Exchange of Thailand by way of an initial public offering of new shares by the issuer in Thailand and a concurrent private placement to eligible investors outside Thailand under Rule 144A/Reg. S of the U.S. Securities Act of 1933.
- Advised Indorama Ventures Public Company Limited on the issuance of a triple-tranche sustainability-linked bond to the value of THB10bn to institutional and high-net-worth investors in Thailand.
- Advised PTT Exploration and Production Public Company Limited on the establishment of its medium-term note programme and public offering of digital bonds under the programme to the value of THB6bn in what was Asia’s first fully-digitalised corporate bond via a digital wallet.
Baker McKenzie LLP
Baker McKenzie LLP’s capital markets team is collectively led by Komkrit Kietduriyakul, Viroj Piyawattanametha, Theppachol Kosol, Primyadar Duangrat and Benja Supannakul, and has demonstrable experience across the full spectrum of domestic and multi-jurisdictional capital markets mandates, including derivatives and debt capital markets transactions, as well as digital assets-related matters in Thailand. The practice stands out for its capability in handling high-end IPOs, in accordance with The Securities and Exchange Commission (SEC) and The Stock Exchange of Thailand (SET). Both Kietduriyakul and Supannakul are noted for their expertise in derivatives transactions, while Piyawattanametha advises on debt capital markets matters and Kosol focuses on equity capital markets, infrastructure funds and debt restructurings. Duangrat acts for clients in securities transactions and associate Pukkapol Khuntamanee is another key member of the team.
Responsables de la pratique:
Komkrit Kietduriyakul; Viroj Piyawattanametha; Theppachol Kosol; Primyadar Duangrat; Benja Supannakul
Autres avocats clés:
Thananan Sangnuan; Kammalard U-rapeepatanapong; Kowit Adireksombat; Somika Phagapasvivat; Kullarat Phongsathaporn; Pukkapol Khuntamanee
Les références
‘The team is in the top rank among legal counsels for Thailand DCM transactions. They deliver quality and reliable work. When the transaction relates to overseas third parties, the team also suggests a satisfactory legal firm that is internationally partnered with the team.’
‘Kowit Adireksombat works professionally. He offers practical solutions and shows flexibility.’
Principaux clients
aCommerce Group Public Company Limited
SCG Chemical Public Company Limited
Ratch Group Public Company Limited
Bualuang Ventures Company Limited
Ascend Money Company Limited
Siam Makro Public Company Limited
Sahacogen (Chonburi) Public Company Limited
Jay Mart Public Company Limited, Singer Thailand Public Company Limited and JMT Network Services Public Company Limited
The Bank of Nova Scotia
Muang Thai Life Assurance Public Company Limited
Minor International Public Company Limited
Krung Thai Bank Public Company Limited
JWD Infologistics Public Company Limited
Singha Estate Public Company Limited
SPV77 Company Limited
Principaux dossiers
- Advised SCG Chemicals Public Company Limited on its spin off and IPO of 3,854,685,000 shares in the Stock Exchange of Thailand and offering to investors in the domestic and international markets under Rule 144A and Regulation S.
- Advised Bualuang Securities Public Company Limited, SCB Securities Company Limited, as well as J.P. Morgan Securities plc and UBS AG, Singapore Branch, as a Thai legal counsel in public offering of the new ordinary shares issued by Siam Makro and the sale of the existing shares by CPALL, Charoen Pokphand Holding and C.P. Merchandising to investors in the domestic and international markets under Rule 144A and Regulation S.
- AdvisedMuang Thai Life Assurance Public Company Limited on an offering of USD-denominated, tier 1 capital notes to investors overseas.
Linklaters
The ‘outstanding’ capital markets team at Linklaters advises on the full gamut of capital markets matters, with experience in high-end debt and equity capital market transactions, and is well-placed to collaborate with the firm’s offices worldwide to advise on mandates concerning Regulation S and Rule 144A. Wilailuk Okanurak, who is noted for her expertise in IPOs, rights offerings, placements of shares and sales of shareholding, jointly leads the practice alongside Pornpan Chayasuntorn, who focuses on equity-linked transactions with combined elements of domestic and international offerings, as well as public M&As and takeovers. Paveen Khiewvichit, who has knowledge of securities-related regulations, is another key member of the team.
Responsables de la pratique:
Wilailuk Okanurak; Pornpan Chayasuntorn
Autres avocats clés:
Paveen Khiewvichit
Les références
‘Linklaters’ drive towards achieving the expected business objectives has made them outstanding among other legal advisers in the capital market practice.’
‘Pornpan Chayasuntorn has great expertise in capital markets.’
Principaux clients
Bangkok Bank Plc.
Bank of America Merrill Lynch
BSS Holdings Company Limited
Bualuang Securities Company Limited
Charoen Pokphand Foods Plc.
Charoen Pokphand Group Company Limited
Credit Suisse
Bank of Ayudhya Public Company Limited
Gulf Energy Development Plc.
JP Morgan
Krungthai Securities
Merrill Lynch Far East Limited
Minor International Plc.
Morgan Stanley Asia Limited
Ngern Tid Lor Plc.
Osotspa Plc.
Kiatnakin Phatra Securities Plc.
The Siam Commercial Bank Plc.
SCB Asset Management
SCB Securities Co Ltd
Ares SSG Capital Management (Hong Kong) Limited
Standard Chartered Bank Plc.
True Corporation Plc.
The Hongkong and Shanghai Banking Corporation Limited
UBS
Principaux dossiers
- Advising Siam Makro Public Company (Makro) on the approximately THB 218bn private placement of newly issued shares of Makro to three Charoen Pokphand Group (CP Group) companies.
- Advising Siam Makro Public Company (Makro) on the public offering of newly issued shares of Makro and listing of newly issued shares on the Stock Exchange of Thailand (SET).
- Advising Ngern Tid Lor Public Company Limited (“NTL”) on its US$1.04bn IPO and listing of 907.4m shares and an overallotment option of 136m shares on the Stock Exchange of Thailand.
Siam Premier International Law Office Limited
Siam Premier International Law Office Limited’s capital markets team handles a broad range of matters, including capital raisings, secondary offerings and corporate finance work. Kulkanist Khamsirivatchara, who acts for issuers on securities offerings and stock exchange mandates, leads the practice alongside Linda Osathaworanan, who advises on IPOs and regulatory compliance issues, and Saithip Mansri.
Responsables de la pratique:
Kulkanist Khamsirivatchara; Linda Osathaworanan; Saithip Mansri
Principaux clients
Nippon Steel Corporation
Krungthai Card Public Company Limited
Krungsriayudhya Card Ltd.
Ngern Tid Lor Public Company Limited
PTG Energy Public Company
Principaux dossiers
- Advising S.F. Holding Co., Ltd. on its pre-conditional voluntary partial offer to acquire 931,209,117 shares in Kerry Logistics Network Limited.
- Acting for Nippon Steel Corporation (NSC) in connection with its proposed acquisition of 100% of shares in each Asia Credit Opportunities (Mauritius) Limited and Link Capital I (Mauritius) Limited from Kendrick Global Limited.
- Represented Krungthai Card PCL with respect to placement-offering of long-term debentures and equity under Medium Term Note Program.
Tilleke & Gibbins
Tilleke & Gibbins’ ‘dynamic’ team acts for domestic and international clients on the issuance of funds, debt and equity securities, among other financial instruments, as well as advising on IPO due diligence and primary and secondary listings on the Stock Exchange of Thailand. Kobkit Thienpreecha, who advises on IPOs, is a key member of the team alongside Santhapat Periera, who acts for investment funds, asset management companies and financial institutions on the provision of financial instruments. The practice was bolstered by the arrival of Yaowarote Klinboon in January 2023 who has assumed the mantle of team head.
Responsables de la pratique:
Yaowarote Klinboon
Autres avocats clés:
Kobkit Thienpreecha; Santhapat Periera
Les références
‘Dynamic law firm cultivating excellence through professionalism and attention to detail.’
Principaux clients
Bain Capital Private Equity
BlackRock
First State Investments
M&G Prudential
Merian Global Investors
Mirae Asset Global Investments
Morgan Stanley
Robeco Singapore Private Limited
Vinythai Public Company Limited
Weiss Asset Management
Principaux dossiers
- Advising Vinythai Public Company Limited on the delisting of its shares from the Stock Exchange of Thailand following a THB 39/share tender offer by PTT Global Chemical Public Company Limited.
- Advised Mirae Asset Global Investments (Hong Kong) Limited on the regulatory framework in respect of the passporting of various ETFs from Hong Kong to Thailand under the Mutual Recognition of Funds between Hong Kong and Thailand.
- Engaged by Robeco Singapore Private Limited to advise on the offering of discretionary investment management services and regulatory requirements for the management a USD 250 million global fixed-income securities portfolio for Thailand’s Government Pension Fund.
Weerawong, Chinnavat & Partners
Weerawong, Chinnavat & Partners acts for issuers, underwriters, security trustees, investors and corporate trustees on debt and equity capital markets transactions, as well as derivative offerings. The practice also advises domestic public companies, financial institutions and government entities on international securities transactions, in addition to the issuance of Thai financial instruments. Team leader Veeranuch Thammavaranucupt is noted for her expertise in IPOs, while Trinuch Chuenchomlada acts for issuers and underwriters on domestic and cross-border equity and debt instruments. Weerawong Chittmittrapap and Wittaya Kaewkungsadan are key contacts in the group.
Responsables de la pratique:
Veeranuch Thammavaranucupt
Autres avocats clés:
Trinuch Chuenchomlada; Wittaya Kaewkungsadan; Weerawong Chittmittrapap
Les références
‘Strong commitment to the client.’
‘Resourceful in finding optimal solutions for the client’s concerns.’
‘Very sound legal advice.’
Principaux clients
aCommerce Group PLC
Asset World PCL
Britania PCL
Kerry Express PCL
Thai Beverage PCL
Siam Commercial Bank
Credit Suisse
Macquarie Bank
Bangkok Bank
Citigroup Global Markets Limited
BNP Paribas
Thai Oil PLC
Hunton Andrews Kurth LLP
The ‘experienced team’ at Hunton Andrews Kurth LLP advises clients across the energy, financial services, transport and technology sectors on IPOs, rights offerings, warrant issues and bond offerings. Stephen Bennett, who focuses on securities transactions and bond issues, leads the practice. Key clients include JPMorgan Securities (Thailand), Top Glove Corporation and Krungthai Zmico Securities, among others.
Responsables de la pratique:
Stephen John Bennett
Les références
‘The highly experienced team helps us get through challenges, with the willingness to support us promptly. They have a variety of skills and experience.’
Principaux clients
JPMorgan Securities (Thailand) Limited
Top Glove Corporation Berhad
International Finance Corporation
Krungthai Zmico Securities Company Limited
Thai AirAsia Company Limited
Aqua Corporation Public Company Limited
BIC Bank Lao Company Limited
Beryl 8 Plus Public Company Limited
Chewathai Public Company Limited
Eternal Energy Public Company Limited
United Power of Asia Public Company Limited
FS Siam Co., Ltd.
Beyond Securities Public Company Limited
Prime Road Power Public Company Limited
ACE Incorporation Co., Ltd.
Sakol Energy Public Company Limited
Principaux dossiers
- Advised Krungthai Zmico Securities Company Limited as over-allotment agent in respect of USD150 million IPO of BBGI Public Company Limited.
- Advised a biofuel producer, being a subsidiary of Bangchak Petroleum Public Company Limited and KSL GI Co., Ltd., a subsidiary of Khon Kaen Sugar Industry Public Company Limited, Aqua Corporation Public Company Limited, Eternal Energy Public Company Limited and United Power of Asia Public Company Limited on USD85m warrant issues.
- Advised Prime Road Power Public Company Limited and Ace Incorporation Co., Ltd. on USD33m bond issues.
Kudun & Partners
Kudun & Partners’ capital markets team is led by founding partner Kudun Sukhumananda, who has experience advising both Thai and international clients on the acquisition and disposal of equity interest in publicly listed companies, and Kom Vachiravarakarn, whose expertise covers IPOs, debt offerings and takeovers. The practice is noted for its experience in working with Thai regulatory bodies and government agencies on securities and regulatory mandates, and has expertise across the energy, telecoms and technology, manufacturing and real estate sectors.
Responsables de la pratique:
Kudun Sukhumananda; Kom Vachiravarakarn
Principaux clients
Prosper Engineering Public Company Limited
T.R.V. Rubber Products Public Company Limited
nForce Secure Public Company Limited
Nova Empire Public Company Limited
Thaifoods Group Public Company Limited
Sermsang Power Corporation Public Company Limited
Health Empire Corporation Public Company Limited
Siamese Asset Public Company Limited
Scan Inter Public Company Limited
JKN Global Media Public Company Limited
Gulf City Co., Ltd.
Watergate Hotel Co., Ltd.
Srisawad Finance Public Company Limited
One to One Contacts Public Company Limited (OTO)
Eternal Energy Public Company Limited
Principaux dossiers
- Represented Prosper Engineering Public Company Limited in connection with its domestic initial public offering on the Market for Alternative Investment (mai) with an approximate total paid up capital of THB 270 Million.
- Represented Health Empire Corporation Public Company Limited on the acquisition of shares in More Medical Co., Ltd. through the allocation of newly issued ordinary shares of the company by way of private placement as a payment in kind.
- Represented JKN Global Media Public Company Limited with respect to the issuance and offering of three series of debentures, for a total value of THB 1.2 billion.
The Capital Law Office Limited
Praised for its ‘experience in domestic and international capital markets deals’, the team at The Capital Law Office Limited is collectively led by Chatri Trakulmanenate, Paradorn Leosakul, who is commended for his ‘excellent negotiation skills’, Patraporn Milindasuta and Haruethai Boonklomjit. The practice acts for issuers and underwriters on matters concerning the issuance of equity, equity-linked products, debt instruments and derivatives transactions. Both Trakulmanenate and Leosakul advise on the public offerings of equity and debt instruments under Rule 144A.
Responsables de la pratique:
Chatri Trakulmanenate; Paradorn Leosakul; Patraporn Milindasuta; Haruethai Boonklomjit
Les références
‘The Capital Law Office is a highly respected and professional firm when it comes to capital markets. Their wealth of expertise and well-respected partners have significant experience within this sector.’
‘The team has experience in complex domestic and international capital markets deals, which was evidenced by the in-depth knowledge and support that they were able to offer us.’
‘Paradorn Leosakul has a wealth of experience in the capital markets sector and displays excellent negotiation skills. He is always a pleasure to work with, and his work is of consistent excellent quality.’
Principaux clients
Kiatnakin Phatra Asset Management Co., Ltd.
The Erawan Group Public Company Limited
MEB Corporation Limited
Euro Creations Co., Ltd.
Chayo Group Public Company Limited
Bualuang Ventures Limited
Krungsri Finnovate Company Limited
Dohome Public Company Limited
Kiatnakin Phatra Securities Public Company Limited
Thai Eastern Group Holdings Public company Limited
Super Energy Corporation Public Company Limited
Raimon Land Public Company Limited
World Flex Public Company Limited
D.T.C. Enterprise Public Company Limited