Deal Announcements

  • Weerawong C&P represented TPI Polene Power Public Company Limited in connection with the spin-off and offering of shares on the Stock Exchange of Thailand and international offering under Regulation S of the US Securities Act 
  • Weerawong, Chinnavat & Partners Ltd. (Weerawong C&P) represented TPI Polene Power Public Company Limited (the Issuer), a subsidiary of TPI Polene Public Company Limited, as Thai legal counsel in connection with the spin-off and offering of shares under Thailand’s Securities and Exchange Commission regulations, and international offering under Regulation S of the US Securities Act and listing of its shares on the Stock Exchange of Thailand.
     
    CIMB Securities (Thailand) Company Limited, Maybank Kim Eng Securities (Thailand) Public Company Limited and TISCO Bank Public Company Limited acted as Thai Financial Advisors and CIMB Securities (Singapore) Pte. Ltd. and Maybank Kim Eng Securities Pte. Ltd. as International Bookrunners in the offering. TPI Polene Power is a power plant operator in Thailand, with the largest waste-to-energy power plant operations in the country in terms of installed waste-to-energy power generation capacity.
     
    This is one of Thailand’s largest offerings and the largest since the EGAT North Bangkok offering. The deal valued at THB 17.5 billion (approximately USD 508 million) closed on 5 April 2017.
     
    The Weerawong C&P team was led by Peangpanor Boonklum, Senior Counsel and Patcharaporn Pootranon, Partner and associates Poonsook Pornpathananangoon and ThitawanThanasombatpaisarn.
  • Weerawong, Chinnavat & Peangpanor Ltd. (Weerawong C&P) represented Bangkok Mass Transit System Public Company Limited (BTSC) on its issue totaling THB 22 billion (approximately USD 618 million) senior unsecured debentures in multiple tranches and with maturities up to 2026
  • Weerawong, Chinnavat & Peangpanor Ltd. (Weerawong C&P) represented Bangkok Mass Transit System Public Company Limited (BTSC) on its issue totaling THB 22 billion (approximately USD 618 million) senior unsecured debentures in multiple tranches and with maturities up to 2026. The debentures were issued to finance the electrical and mechanical systems of the Green Line sky train extensions (north - south) and other BTSC investments. Bangkok Bank Public Company Limited, Bank of Ayudhya Public Company Limited, The Hongkong and Shanghai Banking Corporation Limited and Phatra Securities Public Company Limited acted as underwriters. The debentures were issued on 10 November 2016.
     
    These are the first debentures issued by BTSC since its public offering of debentures in 2009, and were issued in a placement to institutional and high net-worth investors. The debentures are rated “A” with stable outlook by Tris Rating Co., Ltd. and “A(tha) with stable outlook by Fitch Ratings Thailand Limited.
     
    The Weerawong C&P team was led by Veeranuch Thammavaranucupt, Senior Partner, Jongtip Tangsripairoje, Senior Associate and Kulnisha Srimontien, Associate
  • Weerawong, Chinnavat & Peangpanor Ltd. represented Berli Jucker Public Company Limited on the THB 80 billion refinancing in the acquisition of Big C Super Center
  • Weerawong, Chinnavat & Peangpanor Ltd. represented Berli Jucker Public Company Limited on the THB 80 billion refinancing in theacquisition of Big C Super Center. Seven major banks participated in therepayment and refinancing of the loans under a bridging facility in the amountof €3.2 billion and a tender offer facility in the mount of THB 88 billion. Thetransactions closed on 9 September 2016. The refinancing followed the USD 6.2billion acquisition of a majority stake in Big C Thailand in March 2016, thelargest acquisition financing in Thailand in 2016 to date.

    The Weerawong C&P team was led by partner Passawan Navanithikul and senior counsel James Lawden.
  • Weerawong, Chinnavat & Peangpanor Ltd. represented Pace Development Corporation Public Company Limited in the allocation of newly issued shares to private placement 
  • Weerawong, Chinnavat& Peangpanor Ltd. (Weerawong C&P) represented Pace Development Corporation Public Company Limited, aleader in Thai luxury property and hospitality, in the allocation of 176,350,000 newly issued shares to private placement in a capital increase for the purchase of a real estate project in Japan, as well as 320,000,000 newly issued shares by general mandate to global institutional investors in a private placement. The transaction was valued at THB 1,489,050,000 (approximately USD 43 million). The lead underwriter for this share offering was Asia Plus Securities and the Placement Agent was CLSA Singapore Pte Ltd.

    The Weerawong C&P team was led by Peangpanor Boonklum, Senior Counsel, Veeranuch Thammavaranucupt, Senior Partner, Sawita Peetawan, Senior Associate and Duangporn Wongnimmarn, Associate.
  • Weerawong, Chinnavat & Peangpanor Ltd. represented Tipco Asphalt PCL (TASCO) on the acquisition of Colas Group
  • Weerawong C&P represented Tipco Asphalt PCL (TASCO), the country’s leading asphalt maker in the THB 1.9 billion (approximately USD 54 million) acquisition of shares in five subsidiaries (in Singapore, Vietnam, Indonesia and Thailand) of France’s Colas Group, the world’s largest road construction company and a major supplier of blended bituminous products for road surfacing. The acquisition will enable TASCO to boost sales in Indonesia and Vietnam by approximately 200,000 tonnes in 2016.

    The Weerawong C&P team was led by Peangpanor Boonklum, Senior Counsel, Sunyaluck Chaikajornwat, Partner and Jirapat Thammavaranucupt, Associate.
  • Weerawong, Chinnavat & Peangpanor Ltd. represented Taobao China Holding Limited on the acquisition of Lazada
  • Weerawong C&P represented Taobao China Holding Limited, a member of the Alibaba Group operating an online shopping website, in the acquisition of a controlling stake in the Lazada Group, a leading e-commerce platform in Southeast Asia. The transaction consists of an investment of approximately USD 500 million in the newly issued equity capital of the Lazada Group and the acquisition of shares from certain shareholders of the Lazada Group, for a total investment by Alibaba of approximately USD 1 billion.

    The Weerawong C&P team led by Chinnavat Chinsangaram, Executive Partner, Panuwat Chalongkuamdee, Partner included Associate, Peerapat Kumpayorm, Chutharat Romphochee, Sarinya Israbhakdi, Jadhya Siriseth, Duangporn Wongyaowarak and  Pitchaya Kittiwittayakul.
  • Weerawong, Chinnavat & Peangpanor Ltd. represented Berli Jucker Public Company Limited (BJC) in the THB 88 billion facilities.
  • Weerawong C&P represented Berli Jucker Public Company Limited (BJC) in the THB 88 billion facilities (approximately USD 2.51 billion)  provided by several major banks in Thailand namely Bangkok Bank, KASIKORNBANK, Siam Commercial Bank, Krung Thai Bank, TMB Bank, and Tisco Bank for the acquisition of the shares in Big C Supercenter Plc through a tender offer.

    The Weerawong C&P team led by Passawan Navanithikul, Partner included Jongtip Tangsripairoje, Senior Associate and Patinya Sriwatcharodom, Associate.
  • Weerawong, Chinnavat & Peangpanor Ltd. represented Berli Jucker Public Company Limited (BJC) in the EURO 3.2 billion bridge facilities
  • Weerawong C&P represented Berli Jucker Public Company Limited (BJC) in the EURO 3.2 billion bridge facilities (approximately USD 3.6 billion) provided by international banks namely, BNP Paribas, HSBC, Rabobank ICBC, Mizuho Bank, Standard Chartered Bank, SMBC and Bangkok Bank. The funds are for the acquisition of a 58.56% stake in the Big C Supercenter Plc, a large nationwide retail store, from the France-based Casino Group. This is the largest acquisition financing in Thailand in 2016 to date.

    The Weerawong C&P team, led by Passawan Navanithikul, Partner included James Lawden, Senior Counsel, Jongtip Tangsripairoje, Senior Associate and Patinya Sriwatcharodom, Associate
  • Weerawong, Chinnavat & Peangpanor Ltd. represented Kobelco Millcon Steel Company Limited in the financing for the THB 3.96 billion Facility Agreement
  • Weerawong C&P represented Kobelco Millcon Steel Company Limited, a joint venture company formed by Thailand’s listed Millcon Steel Public Company Limited and Japan's Kobe Steel, Ltd, in the financing for the THB 3.96 billion Facility Agreement provided by Bangkok Bank Public Company Limited and Mizuho Bank, Ltd. Bangkok Branch. The financing is to be used as the company’s investment and working capital since the company is to produce special-graded steel to serve an expected rising demand from the Thai automotive industry.

    The Weerawong C&P team, led by partner Passawan Navanithikul, included Nattaporn Pengkul and Sarinya Israbhakdi.
  • Weerawong, Chinnavat & Peangpanor Ltd. represented PTG Energy in its first issuance of THB 1,500 million debentures to II & HNW
  • Weerawong C&P represented PTG Energy Public Company Limited, a Thailand-based oil retailer and wholesaler in its first issuance of THB 1,500 million unsecured and unsubordinated debentures to II & HNW. Krungthai Bank Public Company Limited and CIMB Thai Bank Public Company Limited have been appointed as the underwriters. The transaction closed on 19 February 2016 with full subscription.

    The Weerawong C&P team was led by Veeranuch Thammavaranucupt, senior partner, Jongtip Tangsripairoje, senior associate and Kulnisha Srimontien, associate.
     
  • Weerawong, Chinnavat & Peangpanor Ltd. represented Vintage Engineering on the acquisition in Japan
  • Weerawong C&P represented Vintage Engineering PCL (VTE) in the investment in a 1 MW solar power plant located in Kagoshima-ken, Japan. VTE acquired the shares of Energy Gateway Number 1 Co., Ltd., a company incorporated under the laws of Japan on 22 December 2015.

    The Weerawong C&P team was led by Peangpanor Boonklum, Executive Partner, senior associate Wiriya Chinkarn and associate Pratumporn Somboonpoonpol.
  • Weerawong, Chinnavat & Peangpanor Ltd. represented Golden Land Property Development Company Limited in the sale of shares to Frasers Property Holding (Thailand) Co., Ltd.
  • Weerawong C&P represented Golden Land Property Development Company Limited (“GOLD”) in the sale of over 685 million newly-issued ordinary shares of Golden Land to Frasers Property Holding (Thailand) Co., Ltd., a subsidiary of Frasers Centrepoint Limited, one of the world’s leading property development companies incorporated in Singapore. The deal was worth THB 4.97 billion (approximately USD 131.7 million). This was the first deal conducted under the new Securities and Exchange Commission rules governing the offering of shares to private placement.

    Weerawong C&P team was led by partner Pakdee Paknara, associates Sawita Peetawan, Thitawan Thanasombatpaisarn and Pattarapa Pattanaporn.
  • Weerawong, Chinnavat & Peangpanor Ltd. represented dtac Trinet Company Limited on THB 3,000 million credit facility
  • Weerawong C&P represented dtac Trinet Company Limited (“dtn”), a wholly-owned subsidiary of  Total Access Communication Public Company Limited (dtac) – the second largest GSM mobile phone provider in Thailand, as a borrower, in respect of the THB 3,000 million credit facility agreement with a Japanese commercial bank in Thailand as lender in relation to providing inter-company loans to dtac for the settlement of dtac’s outstanding loans with the bank.

    The Weerawong C&P team was led by partner Passawan Navanithikul and associate Sarinya Israbhakdi.
  • Weerawong, Chinnavat & Peangpanor Ltd. represented dtac Trinet Company Limited on THB 6.7 billion credit facility
  • Weerawong C&P represented dtac Trinet Company Limited (“dtn”), a wholly-owned subsidiary of Total Access Communication Public Company Limited (dtac) – the second largest GSM mobile phone provider in Thailand, as a borrower for five credit facility agreements in an aggregate of approximately THB 6.7 billion, from various major Thai commercial banks and Japanese commercial banks in Thailand. The financing was prepared for the payment of the license fee of the 1800 MHz License and/or the 900 MHz (4G) license bidding arranged by the National Broadcasting and Telecommunications Commission of Thailand, in which dtn is a bidding arm of dtac. The financing was also used for other purposes including the capex investment in the 2100 MHz Licence and refinancing of dtac’s loan under  syndicated facility agreement.

    Weerawong C&P team was led by partner Passawan Navanithikul and associate Jarirat Chevangkul.
  • Weerawong, Chinnavat & Peangpanor Ltd. represented Amata VN Public Company Limited on its initial public offering (IPO) on the Stock Exchange of Thailand
  • Weerawong C&P represented Amata VN Public Company Limited, a 75-per-cent-owned subsidiary of Amata Group, Thailand’s largest industrial estate developer, on its initial public offering (IPO) on the Stock Exchange of Thailand (SET). The funds raised in the THB 1.25 billion (approximately USD 35 million) IPO in Thailand will be used to develop the new Hi-Tech Industrial Park project at Amata City Long Thanh in Vietnam. This is the third Thai holding company listed on the SET to raise funds domestically in order to finance business expansion in a foreign country.

    The first day of trading on the SET was 16 December 2015.

    The Weerawong C&P team was led by executive partner Peangpanor Boonklum, associates Sawita Peetawan and Wiriya Chinkarn.
  • Weerawong, Chinnavat & Peangpanor Ltd. represented Credit Guarantee and Investment Facility (CGIF) in connection with S$195 million unsecured bonds issued by IVL Singapore Pte Ltd.
  • Weerawong C&P represented Credit Guarantee and Investment Facility (CGIF), a trust fund of the Asian Development Bank (ADB) in connection with the Thai legal aspects of the guarantee to be provided by CGIF of S$195 million (USD 138.2 million approximately) unsecured bonds issued by IVL Singapore Pte Ltd., a Singaporean subsidiary of Indorama Ventures Public Company Limited (IVL), a listed Thai company. CGIF received a counter indemnity from the issuer and the Thai parent.

    This represents one of CGIF’s first transactions in Thailand.

    The use of an offshore issuing vehicle was unusual for the Thai market, and Bank of Thailand approval was obtained for the issue of bonds through the offshore vehicle and payment to CGIF of guarantee fees and under the counter indemnities. The transaction closed on 7 October 2015.

    CGIF was established by ADB and the members of ASEAN together with the People's Republic of China, Japan, Republic of Korea (ASEAN+3). CGIF is a key component of the Asian Bond Markets Initiative. It was established to promote the development, stability and resilience of financial markets in the region. CGIF provides credit guarantees for local currency denominated bonds issued by investment grade companies in ASEAN+3 countries.

    IVL is one of the world’s leading petrochemical producers and  leading manufacturer  of wool yarns.

    The Weerawong C&P team was led by partner Veeranuch Thammavaranucupt and associate Parithat Chamnongsilp.
  • Weerawong, Chinnavat & Peangpanor Ltd. represented PTT Public Company Limited on the divestment of its 30.6% stake in SPRC by selling 1.24 billion shares in the initial public offering
  • Weerawong C&P represented PTT Public Company Limited (PTT) on the divestment of its 30.6% stake in Star Petroleum Refining Company Limited (SPRC) by selling 1.24 billion shares (worth THB 11.18 billion, approximately USD 372.6 million) in the offering of 1.44 billion shares in the initial public offering (worth THB 12.96 billion, approximately USD 432 million). PTT offered 86% of the total offering size under Thailand's Securities and Exchange Commission regulations and the listing of shares on the Stock Exchange of Thailand (SET), as well as an international offering under Rule 144 A/Regulation S of the U.S. Securities Act. SPRC is Thailand's last refinery company to list on the SET. After the offering, PTT's shareholding is reduced from 36% to 5.4% while Chevron holds 60% of shares of SPRC. The offering closed on December 3 and the first trading day on the SET was December 8, 2015.

    The Weerawong C&P team was led by executive partner Peangpanor Boonklum, senior associate Patcharaporn Pootranon and associates Poonsook Pornpathananangoon and Thitawan Thanasombatpaisarn. 
  • Weerawong, Chinnavat & Peangpanor Ltd. represented Origin Property Public Company Limited on corporate restructuring and domestic IPO offering
  • Weerawong C&P represented Origin Property Public Company Limited, a leading condominium project developer, on corporate restructuring and offering of 150 million newly-issued shares valued at THB 1,350 million to the general public via initial public offering (IPO). Trading commenced on the Stock Exchange of Thailand on 7 October 2015. The funds will reinforce Origin Property’s climb to a top-three condominium project developer with new projects in strategic areas. Kasikorn Securities Public Company Limited acted as financial advisor and underwriter. 

    The Weerawong C&P team was led by partner Peangpanor Boonklum, and associates Sawita Peetawan and Pattarapa Pattanaporn
  • Weerawong, Chinnavat & Peangpanor Ltd. represented Thai Foods Group PLC on corporate restructuring and initial public offering
  • Weerawong C&P represented Thai Foods Group PLC (TFG or Thai Foods), a leading fully integrated livestock business, on corporate restructuring,  and initial public offering (IPO).
     
    The Thai Foods IPO of 5,100 million shares valued at approximately THB 2,145 million (approx USD 68 million) commenced trading on the Stock Exchange of Thailand on 8 October 2015. The IPO will fund the expansion of Thai Foods’ main poultry and pork meat processing and animal feed business through global distribution channels, as well as working capital and debt repayment. KT Zmico Securities Co., Ltd. acted as financial advisor and underwriter.
     
    The Weerawong C&P team was led by partner Peangpanor Boonklum, senior associate Patcharaporn Pootranon and associates Sawita Peetawan, Poonsook Pornpathananangoon and Thitawan Thanasombatpaisarn.

  • Weerawong, Chinnavat & Peangpanor Ltd. represented Thai Wah Food Products and Thai Wah Starch on the amalgamation
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    Weerawong C&P represented Thai Wah Food Products Public Company Limited (TWFP), Thailand’s leading producer and distributor of noodles and Thai Wah Starch Public Company Limited (TWS), a leading tapioca product manufacturer and exporter, on their amalgamation and the incorporation of a new listed company, Thai Wah Plc (TWPC).  The firm assisted the companies in delisting their shares and relisting the shares of the new company under Thailand’s Securities and Exchange Commission regulations, with paid-up registered capital of THB 880 million.  The amalgamation is part of a strategy for research, development and plant expansion in the ASEAN region in the next three years. Asia Plus Public Company Limited acted as financial advisor. Trading of relisted shares on the Stock Exchange of Thailand commenced on October 5, 2015.


    The Weerawong C&P team was led by partner Pakdee Paknara,senior associate Pattraporn Poovasathien and associates PratumpornSomboonpoonpol, Phatamol Phisitbuntoon and Rapat Sangkarat.

  • Weerawong, Chinnavat & Peangpanor Ltd. represented HSBC in relation to a loan facility for All Season Property Co., Ltd.
  • Weerawong C&P represented the Hongkong and Shanghai Banking Corporation Limited, Bangkok Branch, Bank of China (Thai) Public Company Limited, Industrial and Commercial Bank of China (Thai) Public Company Limited and Oversea-Chinese Banking Corporation Limited, Bangkok Branch on their financing of the THB 3.5 billion term loan facility provided to All Seasons Property Co., Ltd. in relation to the refinance and repayment of the existing intercompany loan that All Seasons Property Co., Ltd. has with its group.

    The Weerawong C&P team was led by partner Passawan Navanithikul, senior associate Nataporn Pengkul and associate Sarinya Israbhakdi.

  • Weerawong, Chinnavat & Peangpanor Ltd. represented Thanachart Bank in the loan facilities for Raffles Design Institute
  • Weerawong C&P represented Thanachart Bank Public Company Limited in the THB 152 million facilities provided to Raffles Assets (Thailand) Limited and Raffles Design International (Thailand) Ltd. in connection with the financing of the construction and development of the Raffles Design Institute, Bangna Campus and the working capital for business operations of the Raffles Design Institute, Bangna Campus.

    The Weerawong C&P team was led by partner Passawan Navanithikul, senior associate Nataporn Pengkul and associate Sarinya Israbhakdi.


     

  • Weerawong, Chinnavat & Peangpanor Ltd. represented WHA Corporation Plc (WHA) in the acquisition of total shares in Hemaraj Land & Development Plc (Hemaraj) for THB 40.5 billion
  • Weerawong C&P represented WHA Corporation Plc (WHA) in the acquisition of 92.88 percent of total shares in Hemaraj Land & Development Plc (Hemaraj) for THB 40.5 billion (approximately USD 1.15 billion).

    WHA acquired 22.53 percent of Hemaraj at 4.50 baht per share from major shareholders and acquired the remaining shares through a tender offer. The acquisition was financed via a rights issue, as well as loans. Weerawong C&P also advised on the financing and rights issue.

    WHA is listed on the SET. It is Thailand’s largest publicly traded developer of factories and warehouses. Hemeraj is also listed on the SET and is Thailand’s largest developer of industrial land by market value. The acquisition will allow WHA to expand its logistics and utilities businesses and expand into land development for manufacturing centers. WHA is positioned to be the leading provider of logistics, industrial park development and utilities services for the entire region.

    The Weerawong C&P team was led by Weerawong Chittmittrapap and included senior associate Wittaya Kaewkungsadan and associate Thitawan Thanasombatpaisarn.

  • Weerawong, Chinnavat & Peangpanor Ltd. represented Bangkok Ranch Public Co., Ltd. on the offering of 228 million new shares valued at THB 2 billion on the Stock Exchange of Thailand
  • Weerawong C&P represented Bangkok Ranch Public Co., Ltd. (Bangkok Ranch) on the offering of 228 million new shares valued at THB 2 billion (approximately USD 58.7 million) on the Stock Exchange of Thailand (SET). 

    Weerawong C&P also advised Bangkok Ranch shareholders on the sale of their shares to private placement, institutional and major retail investors in relation to corporate approval and compliance with securities and exchange regulations. The Siam Commercial Bank Public Co., Ltd. was the financial advisor and SCB Securities and Bualuang Securities were the lead underwriters. The first day of trading on the SET was July 15, 2015.

    Bangkok Ranch is the largest fully integrated duck meat producer in Thailand and the Netherlands, holding the majority of market-share. The proceeds of the IPO will fund the expansion of its slaughterhouse, processing plant and commercial farm capacity in Thailand as well as plans for business expansion in the region.


    The Weerawong C&P team was led by partner Pakdee Paknara and associates Trinuch Chuenchomlada and
    Sawita Peetawan.

  • Weerawong, Chinnavat & Peangpanor Ltd. represented Bangkok Bank PLC in the THB 879 million loan agreement with Globex Corp Ltd.
  • Weerawong C&P represented Bangkok Bank Public Company Limited in the THB 879 million (approximately USD 26.65 million) loan agreement with Globex Corporation Limited for the financing of the subscription offering of shares in Precious Shipping Public Company Limited, one of the biggest shipping companies in Thailand. The financing document is structured to address the risk associated with the non-requirement of certain security and the on lending to other shareholders for financing that subscription.  The shares are listed in the Stock Exchange of Thailand.

    The Weerawong C&P team was led by partner Passawan Navanithikul, senior associate Nattaporn Pengkul and associate Jarirat Chevangkul.

  • Weerawong, Chinnavat & Peangpanor Ltd. represented Ananda MF Asia Chitlom Co., Ltd., in the THB 1,192 million credit facilities with Kasikornbank Public Company Limited
  • Weerawong C&P represented Ananda MF Asia Chitlom Co., Ltd., the borrower in the credit facilities with Kasikornbank Public Company Limited in the acquisition of land and the construction of a condominium project in the heart of Bangkok. The financing is structured to ensure the equivalence of liabilities among the shareholders. The deal was valued at THB 1,192 million (approximately USD 36.12 million) and closed on 29 June 2015. This residential project is another joint venture between Ananda Development Public Company Limited and Mitsui Fudosan Co., Ltd., a major real estate developer in Japan.

    The Weerawong C&P team was led by partner Passawan Navanithikul and associate Sarinya Israbhakdi.
     

  • Weerawong, Chinnavat & Peangpanor Ltd. represented Ananda MF Asia Bangna Co., Ltd., in credit facilities with Krung Thai Bank Public Company Limited for the acquisition of 48 plots of land
  • Weerawong C&P represented Ananda MF Asia Bangna Co., Ltd., the borrower in credit facilities with Krung Thai Bank Public Company Limited in the acquisition of 48 plots of land and the construction of a condominium project in Bangkok. This residential project is a joint investment between Ananda Development Public Company Limited and Mitsui Fudosan Co., Ltd., a major real estate developer in Japan. Ananda MF’s fast-growing residential projects are in close proximity to mass transit stations in Bangkok. The deal was valued at THB 1,892.8 million (approximately USD 57.35 million) and structured to ensure the equivalence of liabilities among the shareholders.

    The Weerawong C&P team was led by partner Passawan Navanithikul and associate Sarinya Israbhakdi.

  • Weerawong, Chinnavat & Peangpanor Ltd. has advised Global Power Synergy Public Company Limited (GPSC) on the acquisition in Ichinoseki Solar Power 1 GK
  • Weerawong, Chinnavat & Peangpanor Ltd. represented GlobalPower Synergy Public Company Limited (GPSC) in the company’s first solarpower plant project in Ichinoseki Japan.  GPSCacquired from Conergy Asia, a 99 per cent stake in Ichinoseki Solar Power 1 GK, theproject company holding the right to develop an18 MW solar power plant in Japan. The capacity will be increased to 20 MWwhen operations  are scheduled to commence in 2017.  The transactionis valued at USD 9 million and closed in March 2015.

    TheWeerawong C&P team was led by partner Passawan Navanithikul and senior associate Panuwat Chalongkuamdee.


     

      
  • Weerawong, Chinnavat & Peangpanor Ltd. represented Green Earth Power (Thailand) Co., Ltd. (GEP) in the acquisition by Vintage Engineering PLC (VTE) of 12% shares in GEP
  • Weerawong, Chinnavat and Peangpanor Ltd. represented Green Earth Power (Thailand) Co., Ltd. (GEP) in the acquisition by Vintage Engineering PLC (VTE) of 12% shares in GEP. The acquisition was transacted through the combination of: (i) the subscription of new ordinary shares in GEP, for which VTE paid subscription price in cash; and (ii) the purchase of existing shares in GEP from its major shareholder, for which VTE issued its new shares to that major shareholder of GEP (a share swap). The transaction is valued at THB 666,051,946 (approximately USD 19.5 million).

    GEP is a privately owned holding company that invests in the development and operation of solar power projects throughout ASEAN and Japan. VTE is an engineering firm that provides services for full-scale engineering systems for a wide variety of residential, hotel, hospital, shopping mall, and factory buildings.

    Weerawong C&P also advised VTE in relation to corporate approval and compliance with securities and exchange laws and regulations.

    The Weerawong C&P team was led by executive partner Chinnavat Chinsangaram, and included associates Wiriya Chinkarn, Pratumporn Somboonpoonpol, Peerapat Kumpayorm, Teerasak Petchpaibool, Kulnisha Srimontien, and Pattarapa Pattanaporn. 

  • Weerawong, Chinnavat & Peangpanor Ltd. has advised EGAT on the establishment of THB 20.85 billion EGATIF
  • Weerawong, Chinnavat and Peangpanor Ltd. represented the Electricity Generating Authority of Thailand (EGAT), the largest power generator in Thailand, and Krung Thai Asset Management Public Company Limited (KTAM), on the initial public offering of North Bangkok Power Plant Block 1 Infrastructure Fund, Electricity Generating Authority of Thailand (EGATIF).

    EGATIF is the first state-owned enterprise sponsored infrastructure fund, and with an offering size of THB 20,855 million (approximately USD 641 million), the largest electricity infrastructure fund to be listed on the Stock Exchange of Thailand to date. The fund has invested in the rights to revenue from the operation of North Bangkok Power Plant Block 1, one of EGAT's latest combined-cycle power plants with a contracted power generation capacity of 670 MW, for a 20 year period.

    Trading of EGATIF investment units is scheduled to commence on 13 July 2015.

    Weerawong C&P advised EGAT, the sponsor and KTAM, the fund manager.

    The Weerawong C&P team led by executive partner Peangpanor Boonklum included senior associate Wittaya Kaewkungsadan and associates Jirapat Thammavaranucupt and Orachat Mahaidhidol. 

  • Weerawong, Chinnavat & Peangpanor Ltd. has advised Global Power Synergy Co (GPSC), on its THB 10.11 billion initial public offering.
  • Weerawong C&P advised Global Power Synergy Co. (GPSC), a power generation unit of the PTT Group in its initial public offering (IPO). GPSC will raise more than THB 10.11 billion (approx. USD 304 million) on the sale of 375.57 million shares, providing GPSC with a market capitalization of THB 40.45 billion (approx. USD 1.23 billion). GPSC plans to boost electricity generating capacity from 1,800 to 6,000 megawatts by 2025 through domestic and overseas expansion.

    Major shareholders include PTT, PTT Global Chemical and Thai Oil. KT ZMICO, Finansa, and Tisco Securities were the lead underwriters. Trading commenced on May 18, 2015.

    The Weerawong C&P team was led by Peangpanor Boonklum, Executive Partner and Wittaya Kaewkungsadan, Senior Associate.
     

  • Weerawong, Chinnavat & Peangpanor Ltd. has advised Pace Development Corporation Public Company Limited (PACE) for acquisition of shares in 4 subsidiaries of IBC Holding Ltd. and IDJ Holdings Limited
  • Weerawong, Chinnavat & Peangpanor Ltd. has advised Pace Development Corporation Public Company Limited (PACE), a leader in Thai luxury properties and hospitality, including The Ritz-Carlton Residences and Maha-nakorn, the tallest tower in Thailand,  in the acquisition of  ordinary shares of its subsidiaries: (i) 31% Pace Real Estate Co., Ltd.; (ii) 15% Pace Project One Co., Ltd.; (iii) 15% Pace Project Two Co., Ltd.; and (iv) 15% Pace Project Three Co., Ltd., and the transfer of the financial obligations of these four subsidiaries from IBC Holding Ltd., a subsidiary of Industrial Building Corporation Ltd., a company listed in Israel and IDJ Holdings Limited, a shareholder of Pace Real Estate Co., Ltd. The transaction which was valued at approximately THB 1,944 million (USD 64 million), closed on 31 March 2015.

    The Weerawong C&P team was led by executive partner Peangpanor Boonklum, and included key associates Sawita Peetawan and Pohnpreeya Amorndajalert.


     

  • Weerawong, Chinnavat & Peangpanor Ltd. advised Natural Park (NPARK) in the share-for-share swap transaction with BTS Group Holdings Plc (BTSG)
  • Weerawong, Chinnavat & Peangpanor Ltd. advised Natural Park (NPARK) in the share-for-share swap transaction with BTS Group Holdings Plc (BTSG). NPARK acquired 100% of BTS Assets Co. and Kamkung Properties Co. from BTSC and in return NPARK issued its shares and warrants to BTSG resulting in BTSG holding a 35.64% stake in NPARK, which has been renamed U City.

    BTS Assets Co. and Kamkung Properties Co. are the flagship real estate companies of BTSG, owning the Eastin Grand Hotel as well as high profile land portfolios in proximity to the Phaya Thai and Mor Chit skytrain stations and the Airport Rail Link.  The combined assets, valued at THB 9.4 billion or approximately USD 313 million will be the basis for the development of office, hotel and retail projects.  

    The Weerawong C&P team was led by partner Peangpanor Boonklum and included key associates Panuwat Chalongkuamdee and Pratumporn Somboonpoonpol.

  • Weerawong, Chinnavat & Peangpanor Ltd. advised Jardine Cycle & Carriage in acquiring 25% in Siam City Cement for USD 615 million
  • Weerawong, Chinnavat & Peangpanor Ltd (Weerawong C&P) has advised Jardine Cycle & Carriage Limited (JC&C), SGX-ST listed company and a member of the Jardine Matheson Group, in respect of the acquisition of 57.27 million ordinary shares representing approximately 24.9 per cent of the issued share capital of Siam City Cement Public Company Limited (SCCC), Thailand’s second largest cement manufacturer, from Holcim subsidiary Thai Roc-Cem Limited for the equivalent of USD 615 million.

    The Weerawong C&P team was led by partners Peangpanor Boonglum and Veeranuch Thammavaranucupt and included key associates Kongkoch Yongsavasdikul and Jirapat Thammavaranucupt.

  • Weerawong, Chinnavat & Peangpanor Ltd. represented Scan Inter on its THB 1.5 billion initial public offering
  • Weerawong, Chinnavat & Peangpanor Ltd. represented Scan Inter (SCN), a leader in the alternative energy and automotive industries in Thailand, on its THB 1.5 billion  initial public offering (IPO). The IPO is a domestic offering under Thai SEC regulations.

    The financial adviser and lead underwriter is Kasikorn Securities, while co-underwriters are CIMB Securities (Thailand), RHB OSK Securities (Thailand), Thanachart Securities and KT ZMICO Securities. Trading is set to commence on the Stock Exchange of Thailand on February 23, 2015.
     
    The Weerawong C&P team included leading partner Kudun Sukhumananda and associates Wittaya Kaewkungsadan, Pratumporn Somboonpoonpol and Thitawan Thanasombatpaisarn.

  • Weerawong, Chinnavat & Peangpanor Ltd. represented Plan B Media on its THB 1.79 billion initial public offering
  • Weerawong, Chinnavat & Peangpanor Ltd. represented Plan B Media, one of Thailand's  largest out-of-home media (OOH) businesses, on its THB 1.79 billion  initial public offering (IPO). The IPO is a domestic offering under Thai SEC regulations. Trading will commence on the Stock Exchange of Thailand on February 17, 2015.
     

    Plan B Media offers a wide range of innovative OOH platforms to support world class campaigns, including transit, digital and static media as well as mall and in-store platforms. Funds raised from the IPO will support its continued growth and new projects. Bualuang Securities Plc was the financial advisor.
     

    The Weerawong C&P team included leading partners Peangpanor Boonklum, Pakdee Paknara, senior associate Patcharaporn Pootranon and associate Thitawan Thanasombatpaisarn.
     

  • Weerawong, Chinnavat & Peangpanor Ltd. represented Jasmine International Pcl on the establishment and initial public offering of the investment units of Jasmine Broadband Internet Infrastructure Fund
  • Weerawong, Chinnavat & Peangpanor Ltd. represented Jasmine International Pcl (Jasmine), one of Thailand's largest integrated telecommunication service providers (including fixed-telephone lines, wireless network, digital network and internet access services), on the establishment and initial public offering (IPO) of the investment units of Jasmine Broadband Internet Infrastructure Fund (JASIF), the Thai infrastructure fund investing in broadband internet assets. With an offering size of THB 55 billion (approximately USD 1.7 billion), JASIF is the largest such offering since 2013.  Investment units of JASIF are offered to international investors under Rule 144A and local investors and are listed on the Stock Exchange of Thailand (SET).

    JASIF used the proceeds from the IPO to acquire ownership of optical fiber cable assets from Jasmine’s subsidiary, Triple T Broadband Pcl (TTTBB) and has then leased optical fiber cores to TTTBB, thereby benefiting from revenue generated from the lease of optical fiber cores.  Bualuang Securities Pcl, a securities arm of Bangkok Bank Pcl, and Morgan Stanley arranged the offering of JASIF’s investment units.  Trading of JASIF’s investment units on the SET commenced on February 16, 2015.

    The transaction involved complex work within a multitude of legal areas (including capital markets, telecommunication, corporate, dispute and litigation). Consequently, the Weerawong C&P team operated by bringing together transactional specialists with lawyers from other practice groups that possess the necessary experience or expertise, thereby assuring the highest possible quality of service during all stages of the process.  The transaction closed on February 11, 2015.

    The Weerawong C&P team was led by partners Peangpanor Boonklum and Veeranuch Thammavaranucupt and included key associates namely Kongkoch Yongsavasdikul, Trinuch Chuenchomlada and Pohnpreeya Amorndajaler.
     

  • Weerawong, Chinnavat & Peangpanor Ltd. advised Country Group Securities Plc on an innovative company structuring which is the first of its kind in Thailand
  • Weerawong, Chinnavat & Peangpanor Ltd. advised Country Group Securities Plc (CGS), a leader in the Thai securities industry, on an innovative company structure which will allow the company to pursue new business opportunities.  

    This deal is the first of its kind under the Notification of the Capital Market Supervisory Board Re: Shareholding and management restructuring of listed companies (Notification No. Tor. Jor. 34/2552). Although the notification was passed in 2009, it had never been interpreted and utilized by a listed company to create a business entity outside of the securities industry. Listed companies will surely find restructuring easier in the wake of CGS’s groundbreaking deal. 

    Under the CGS shareholding and management restructuring, Country Group Holdings Plc (CGH) was set up as a new holding company in order to launch a tender offer for a share swap of CGS shares. CGS was then delisted and CGH was listed on the Stock Exchange of Thailand. The restructuring will position the new entity for expansion in the ASEAN Economic Community to be implemented next year.

    The Weerawong C&P team was led by Partner Peangpanor Boonklum.

  • Weerawong, Chinnavat & Peangpanor Ltd. advised Rich Asia Steel Plc. on the sale of shares in Thai National Products Co Ltd. worth THB 540 million
  • Weerawong, Chinnavat & Peangpanor Ltd. has advised Rich Asia Steel Plc, a leading manufacturer, trader and distributor of steel products in Thailand, in respect of the sale of shares in its subsidiary, Thai National Products Co Ltd, to Dr Phasin Suebsubanunt, Thiti Kittipattananon and Duendara Limthanakul for approximately β540 million (US$16.4m). The sale of shareholders equity is a strategic step in business restructuring and corporate spin-off. The transcation was completed on 3 December 2014.

    The Weerawong C&P team was led by partner Weerawong Chittmittrapap and senior associate Panuwat Chalongkuamdee.

  • Weerawong, Chinnavat & Peangpanor Ltd. advised Siam Commercial Bank in the joint venture to establish Supernap (Thailand) Co., Ltd. , ASEAN’s largest data center
  • Weerawong, Chinnavat & Peangpanor Ltd. advised Siam Commercial Bank in the joint venture with CPB Equity, Kasikornbank, True Internet Data Center, and Supernap International to establish Supernap (Thailand) Company Limited, ASEAN’s largest data center.

    The Supernap data center, located in the  Hemaraj Chonburi Industrial Estate, has been granted the best available tax privilege promotion from the Thai Board of Investment (BOI). Weerawong C&P advised on the project agreements including licensing agreement, construction agreement, and co-location agreement. The transaction is valued at approximately THB 4 billion and closed on December 22, 2014.

    Weerawong Chittmittrapap and senior associates Sunyaluck Chaikajornwat and Panuwat Chalongkuamdee led the transaction.


     


     

  • Weerawong, Chinnavat & Peangpanor Ltd. advised NOMURA ASIA INVESTMENT (SINGAPORE) PTE. LTD. on a voluntary tender offer of the shares of Capital Nomura Securities Public Company Limited.
  • Weerawong, Chinnavat & Peangpanor Ltd. advised NOMURA ASIA INVESTMENT (SINGAPORE) PTE. LTD. on a voluntary tender offer of the shares of Capital Nomura Securities Public Company Limited (CNS), an equity affiliate located in Bangkok. The Nomura Group launched the tender offer with the intention of making CNS a consolidated subsidiary.CNS has 25 branch offices in Thailand, and conducts a growing securities business which includes retail and wholesale functions with a wide range of clients. In recent years, CNS has pursued expansion into surrounding countries such as Laos, Myanmar and Cambodia, where growth is expected to accelerate. The deal is valued at THB 3,365 million.

    The Weerawong C&P team was led by partners Peangpanor Boonklum, Pakdee Paknara and senior associates Yaowarote Klinboon and Ekachai Chotipitayasunon.
     

  • Weerawong, Chinnavat & Peangpanor Ltd. advised E for L Aim Public Company Limited on the financing from the syndication of KBank and CIMB
  • Weerawong, Chinnavat & Peangpanor Ltd. advised E for L Aim Public Company Limited (EFORL) on the financing transaction in which funds obtained from the syndication of KASIKORNBANK Public Company Limited and CIMB Thai Bank Public Company Limited by E for L Aim Public Company Limited and its newly established subsidiary WCI Holding Co., Ltd., were used in the acquisition of the entire share capital of Wuttisak Clinic Inter Group Company Limited, the largest beauty clinic in Thailand, through WCI Holding Co., Ltd. WCIG has 120 branches in Thailand as well as 11 franchises in Lao PDR, Cambodia, Vietnam and Myanmar. The total facilities amount was THB 3,400 million. The deal closed on December 4, 2014.

    The transaction was led by Passawan Navanithikul, Partner and Nattaporn Pengkul, Senior Associate. The firm’s corporate team also advised on the acquisition.

  • Weerawong, Chinnavat & Peangpanor Ltd. advised E for L Aim PLC on the acquisition of Wuttisak Clinic Inter Group Co., Ltd.
  • Weerawong, Chinnavat and Peangpanor Ltd. advised E for L Aim Public Company Limited (EFORL) on the acquisition of the entire share capital of Wuttisak Clinic Inter Group Company Limited (“WCIG”), the largest beauty clinic in Thailand, through WCI Holding Co., Ltd. in which EFORL holds a 60% equity stake and indirectly becomes the major shareholder of WCIG.  The transaction value is THB 4.5bn and closed on December 4, 2014.
     
    The transaction was led by Weerawong Chittmittrapap, Partner and Panuwat Chalongkuamdee, Senior Associate.
  • Weerawong, Chinnavat & Peangpanor Ltd. advised Bualuang Securities, Credit Suisse, DBS and Citigroup Global Markets Limited on the initial public offering by Bangkok Airways
  • Weerawong, Chinnavat & Peangpanor Ltd. advised Bualuang Securities, Credit Suisse, DBS and Citigroup Global Markets Limited on the THB 13,000 million (approximately USD 400 million) initial public offering by Bangkok Airways, a full service boutique airline, airport operator and airport services provider in Thailand. Weerawong C&P also advised on the sale of secondary shares by a shareholder of Bangkok Airways. 

    The initial public offering comprises a domestic offering under Thai SEC regulations and international offering under Regulation S of the US Securities Act. The transaction is the largest listing of shares on the Stock Exchange of Thailand in 2014 to date. The transaction closed on October 28, 2014. The shares started trading on the Stock Exchange of Thailand on November 3, 2014.

    The Weerawong C&P team included leading partner Peangpanor Boonklum and associates Patcharaporn Pootranon and Trinuch Chuenchomlada.

  • Weerawong, Chinnavat & Peangpanor Ltd. advised Rexel on its acquisition of 4 Knights International Co., Ltd. in Thailand
  • Weerawong, Chinnavat and Peangpanor Ltd. advised Rexel General Supply and Services (Thailand) Co., Ltd. on its second acquisition in Thailand, 4 Knights International Co., Ltd. which holds a leading position in the downstream oil and gas onshore sector with branches in Bangkok and Rayong, key regions for onshore activities, for the sum of THB  253.8 million. The transaction reinforces Rexel’s position in the oil and gas sector and strengthens the group’s presence in South-East Asia.

    The Weerawong C&P team included leading partners Peangpanor Boonklum, Pakdee Paknara and associates Panuwat Chalongkuamdee and Woramon Kengtanomsak.

  • Weerawong, Chinnavat & Peangpanor Ltd. acted as Thai counsel for Bangkok Dusit Medical Services Public Company Limited
  • Weerawong, Chinnavat & Peangpanor acted as Thai counsel for Bangkok Dusit Medical Services Public Company Limited, Thailand’s largest medical services network and a leading healthcare provider, on the offering and issuance of THB 10 billion USD-settled convertible bonds. This transaction is the first Thai Baht-denominated zero-coupon convertible bond issued by a Thai issuer. The deal size is THB 10 billion, approximately USD 311 million. The offering was made under Regulation S to investors outside Thailand and the United States. The bonds are listed on the Singapore Exchange Securities Trading Limited. The transaction closed on 18 September 2014. Bank of America Merrill Lynch, Credit Suisse, Phatra Securities and The Siam Commercial Bank acted as joint bookrunners and joint lead managers for this transaction.

    Partners Peangpanor Boonklum and Veeranuch Thammavaranucupt led the transaction.

  • Weerawong, Chinnavat & Peangpanor Ltd. advised Thanachart Bank in connection with the first Tier 2 convertible debentures issuance in Thailand
  • Weerawong, Chinnavat & Peangpanor Ltd. advised Thanachart Bank Public Company Limited, a leading commercial bank in Thailand, in connection with the first Tier 2 convertible debentures issuance in the Kingdom of Thailand, valued at THB 13 billion. These convertible debentures will be used by Thanachart Bank for its Tier 2 regulatory capital purposes and will complement Thanachart Bank’s ability to meet the capital adequacy requirements of the Bank of Thailand in accordance with the framework and guidance of the Basel III Accord.  Thanachart Bank also acts as an underwriter.

    The convertible bonds have been issued to qualified institutional investors and high net worth individuals in accordance with the applicable regulations of the Thai Securities and Exchange Commission.  As it is the first of its kind in Thailand for domestic Basel III Tier 2 convertible debentures (without written off/down feature), the Thanachart deal will clear the way for other Thai banks to follow suit.

    Partners Peangpanor Boonklum and Veeranuch Thammavaranucupt led the transaction.

  • Weerawong, Chinnavat & Peangpanor Ltd. has advised SPCG Public Company Ltd. in respect of the sale of its shares to Gulf Energy Development Company Ltd.
  • Weerawong, Chinnavat & Peangpanor Ltd. has advised SPCG Public Company Ltd, a pioneer solar farm and solar roof developer in Thailand, in respect of the sale through private placement of its approximately 84 million shares representing 10 percent stake to Gulf Energy Development Company Ltd, one of Thailands largest independent power-producer groups. This is an opportunity for SPCG to lower its financial costs due to the good relationship of Gulf Energy with its overseas creditors. The transaction which was executed on 6 June 2014.

    Partner Kudun Sukhumananda led the transaction including associates Sawita Peetawan.

  • Weerawong, Chinnavat & Peangpanor Ltd. advised Toyo-Thai Corporation in USD 100 million project financing for a power plant project in Myanmar
  • Weerawong C&P represented Toyo-Thai Corporation PCL (TTCL) in obtaining project financing of USD100 million from EXIM Bank for the development of a 120MW combined-cycle gas-turbine power plant project in Yangon. The transaction is the first of its kind in Thailand and Myanmar.

    This is also the first private sector project financing in Myanmar for the Export-Import Bank of Thailand. Toyo-Thai is an integrated engineering procurement and construction business listed in Thailand - the Myanmar unit will receive the loan directly from EXIM Bank. Toyo-Thai (Singapore) has guaranteed the loan and provided a share pledge to secure the repayment.

    This project paves the way for other Thai companies for the development of the plant in Myanmar.  The signing ceremony was on May 28, 2014 in Bangkok.

    Partner Kudun Sukhumananda led the team, including senior associate Nattaporn Pengkul.

  • Weerawong, Chinnavat & Peangpanor Ltd. advised certain major shareholders of Master Ad Plc. on its sale of stake to VGI Global Media Plc.
  • Weerawong, Chinnavat & Peangpanor Ltd. represented certain major shareholders of Master Ad Public Company Limited (MACO), Thailand’s largest outdoor media provider, on the sale of their 24.43% stake or 73.5 million shares worth THB 661.5 million to VGI Global Media Public Company Limited (VGI) through big lot trading. VGI is Thailand's largest transit-media provider and a unit of the BTS Group. This deal increases the media alternatives and reach of the out-of-home media networks of both MACO and VGI.

    The deal was executed on May 12, 2014.
    Partners Pakdee Paknara and Veeranuch Thammavaranucupt and associate Kongkoch Yongsavadikul were the transaction team.
     

  • Weerawong, Chinnavat & Peangpanor Ltd. advised Srisawad on Initial Public Offering
  • Weerawong, Chinnavat & Peangpanor Ltd. represented Srisawad Power 1979 Public Company Limited (SAWAD), a major consumer finance company in Thailand, on its corporate restructuring and initial public offering (IPO) on the Stock Exchange of Thailand (SET). The IPO comprised 250 million shares for a total offering size of THB 1.73 billion (USD 57.7 million approximately). Asia Plus Advisory Company Limited acted as financial adviser and lead underwriter. KT Zmico Securities, Kasikorn Securities, CIMB Securities and Finansia Syrus Securities are co-underwriters.  Commencement of trading on the SET was on 8 May 2014.


    Partner Kudun Sukhumananda led the legal team with Ekachai Chotipitayasunon, Sawita Peetawan, Poonsook Pornpathanangoon and Woramon Kengtanomsak.
     

  • Weerawong, Chinnavat & Peangpanor Ltd. advised Kaset Thai on Initial Public Offering
  • Weerawong, Chinnavat & Peangpanor Ltd. represented Kaset Thai International Sugar Corporation (KTIS), Thailand’s third largest sugar producer, on its corporate restructuring, and initial public offering (IPO) on the Stock Exchange of Thailand (SET). The IPO comprised 957 million shares for a total offering size of THB 9.57 billion (USD 319 million approximately) to construct new plants to serve the growth of global demand. Kasikorn Securities acted as financial adviser, KT Zmico Securities and Maybank Kim Eng Securities acted as lead underwriters.

    Commencement of trading on the SET was on 28 April 2014.

    The project team was led by Kudun Sukhumananda, partner which also included Ekachai Chotipitayasunon-senior associate, Tuangrat Mingviriya, Sawita Peetawan and Woramon Kengtanomsak as a team member.

  • Weerawong, Chinnavat & Peangpanor Ltd. advised P.C.S. Machine Group Holding Public Company Limited on Initial Public Offering
  • Weerawong, Chinnavat & Peangpanor Ltd. represented P.C.S. Machine Group Holding Plc, holding company having main business of manufacturing and sale automotive parts, on its corporate restructuring, and initial public offering (IPO) on the Stock Exchange of Thailand (SET). The IPO comprised 389 million shares for a total offering size of THB 3,345.4 million (USD111.5 million approximately).

    Bualuang Securities acted as a financial adviser and joint-lead underwriter with SCB Securities. The trading date on the SET was on 14 March 2014.

    The project team was led by Peangpanor Boonklum, Partner which also included Patcharaporn Pootranon as a team member.
     

  • Weerawong, Chinnavat & Peangpanor Ltd. advised PTT Public Company Limited on the sale of its 45% stake in Vietnam LPG Co., Ltd.
  • Weerawong, Chinnavat & Peangpanor Ltd. advised PTT Public Company Limited (PTT) in the sale of its 45% stake in Vietnam LPG Company Limited (VLPG) to joint venture partner PetroVietnam Southern Gas Joint Stock Company (PVGAS South). VLPG engages in the supply, storage, filling plant operations, sale and marketing of liquefied petroleum gas as a subsidiary of PVGAS South.

    In a filing to the Stock Exchange of Thailand, PTT notes, “The sale of PTT's entire stake in VLPG is in line with PTT Group's restructuring policy and such sale does not affect the international expansion of its oil business and the PTT Group.”

    A capital transfer agreement between PTT and PVGAS South was executed on February 12, 2014.

    Peangpanor Boonklum was a leading partner in this transaction and the team, including associates Wiriya Chinkarn, Rapat Sangkarat and Wassamon Lohachitramond.

  • Weerawong, Chinnavat & Peangpanor Ltd. advises Bank of America Merrill Lynch and Phatra Securities Pcl on the issuance and offering of exchangeable bonds by CPFH, a first-of-its-kind transaction in Thailand
  • Weerawong, Chinnavat & Peangpanor Ltd. (Weerawong C&P) advised Bank of America Merrill Lynch and Phatra Securities Pcl on the issuance and offering of USD 290.4 million 0.5 per cent exchangeable bonds due in 2019. The bonds were issued by CP Foods Holdings Limited (CPFH), a subsidiary of Charoen Pokphand Foods Pcl (CPF), Thailand’s largest agribusiness conglomerate.

    The bonds are listed on the Singapore Exchange Securities Trading Limited and are exchangeable into shares of CP All Pcl, Thailand’s largest convenience store operator. They come with a sponsor undertaking from CPF.  The transaction closed on January 15, 2014.

    This exchangeable bond with sponsor undertaking is the first-of-its-kind in Thailand.
    The Weerawong C&P team included leading partners Peangpanor Boonklum, Veeranuch Thammavaranucupt and associate Chumpicha Vivitasevi.
     

  • Weerawong, Chinnavat & Peangpanor Ltd. advised The Siam Commercial Bank on the sale of 60.86% stake in SCSMG to ACE group
  • Weerawong, Chinnavat & Peangpanor Ltd. (Weerawong C&P) advised The Siam Commercial Bank PCL (SCB), one of the country’s largest and most venerable financial institutions in respect of the sale of its 60.86% equity stake in The Siam Commercial Samaggi Insurance PCL (SCSMG), a major general insurance company in Thailand to ACE Group, a global insurance and financial services firm based in the US.

    This transaction presents an excellent opportunity for ACE to further build their business in this fast-growing market by expanding their presence in personal and small commercial insurance. SCB and ACE Group have reached a conditional agreement on January 13, 2014 for the sale of the equity stake at THB 3.74 billion (approximately USD113 million). The transaction as contemplated by the agreement will likely be completed in the second quarter of 2014.

    Weerawong Chittmittrapap was a leading partner in this transaction with Samata Masagee, Panuwat Chalongkuamdee and Wiriya Chinkarn, the associates.
     

  • Weerawong, Chinnavat & Peangpanor Ltd. advised MFC Asset Management on establishing Hemaraj Industrial Property and Leasehold Fund

  • Weerawong, Chinnavat and Peangpanor Ltd. (Weerawong C&P) represented MFC Asset Management Public Company Limited on establishing Hemaraj Industrial Property and Leasehold Fund (HPF) which offers freehold interest and leasing rights in Hemaraj’s invested land and ready-built factories in four industrial estates: Eastern Seaboard Industrial Estate, Hemaraj Eastern Seaboard Industrial Estate, Hemaraj Chonburi Industrial Estate, and Hemaraj Saraburi Industrial Land. The transaction closed on December 25, 2013, and is valued at approximately USD 157 million (THB 4.7 billion).

     
    Pakdee Paknara, Partner, led the project team which included Associates; Tuangrat Mingwiriya, Chumpicha Vivitasevi, Thitawan Thanasombatpaisarn, Thitiporn Chaowasakoo, Jarirat Chevangkul, and real estate specialist,  Chusak Suwanpuchai.

     
  • Weerawong, Chinnavat & Peangpanor Ltd. advised Rexel Group on the acquisition of Quality Trading Group
  • Weerawong, Chinnavat & Peangpanor Ltd. (Weerawong C&P) represented Rexel Group, a global leader in the distribution of electrical supplies, on the acquisition of the business and assets of Quality Trading Group, one of the largest electrical distributors in Thailand. The transaction closed on November 29, 2013 and is valued at approximately USD 20 million.

    Pakdee Paknara, Partner, led the project team, which also included Associates Panuwat Chalongkuamdee, Pratumporn Somboonpoonpol, and Jarirat Chevangkul.

  • Weerawong, Chinnavat & Peangpanor Ltd. advised Credit Suisse (Singapore) on the purchase of shares in VGI Global Media from BTS Group Holdings
  • Weerawong, Chinnavat & Peangpanor Ltd. (Weerawong C&P) advised Credit Suisse (Singapore) Limited (the “Purchaser”) on the purchase of 220 million shares, or the equivalent of a 6.7% shareholding, in VGI Global Media Public Company Limited (“VGI”) through the Big Lot Board of the Stock Exchange of Thailand (the “SET”). 

     
    The transaction was valued at USD 90 million (approximately THB 2.7 billion), and was made through an overnight placement to local and foreign investors. The transaction closed on November 19, 2013.

     
    Peangpanor Boonklum, Partner, led the project team which also included Patcharaporn Pootranon, Associate.

     
  • Weerawong, Chinnavat & Peangpanor Ltd. advised on the establishment and offering of the Amata B. Grimm Power−Power Plant Infrastructure Fund
  • Weerawong, Chinnavat & Peangpanor Ltd. (Weerawong C&P), represented Amata B. Grimm Power Co., Ltd. and Kasikorn Asset Management Co., Ltd. on the initial public offering and listing of units on the Stock Exchange of Thailand (SET) of Amata B. Grimm Power−Power Plant Infrastructure Fund (ABPIF). This was Thailand’s first power plant infrastructure fund.

    Amata B. Grimm Power Co. Ltd., the majority unit holder in the fund, is the leading Small Power Producer (SPP) in Thailand, and is principally owned by the local trading conglomerate B. Grimm. The offering involved 600 million shares set at THB 10.50 per share, and was valued at up to USD 203 million (THB 6.3 billion). Kasikorn Asset Management Co., Ltd. acted as fund manager and KASIKORNBANK Pcl. as underwriter. The IPO started trading on the SET on September 27, 2013.

    The WC&P project team was led by Kudun Kukhumananda, Partner, and included Associates Nattaporn Pengkul, and Mayuree Sapsutthiporn.
     

  • Weerawong, Chinnavat & Peangpanor Ltd. advised PACE Development on Initial Public Offering
  • Weerawong, Chinnavat & Peangpanor Ltd. (Weerawong C&P), represented PACE Development Corporation Public Company Limited, a major high-rise and luxury property developer in Thailand, on their IPO and listing of investment units on the Stock Exchange of Thailand (SET).  The offering involved 600 million shares set at THB 3.5 per share, and was valued at up to USD 70 million (THB 2.1 billion). Asia Plus Securities Plc., Country Group Securities Plc., and SCB Securities acted as its lead underwriters with 7 co-underwriters namely, Globlex Securities, KGI Securities (Thailand) Plc, CIMB Securities (Thailand), Capital Nomura Securities Plc, Thanachart Securities Plc, Bualuang Securities Plc., and Finansia Syrus Securities Plc. The IPO started trading on the SET on August 7, 2013.

    The project team was led by Peangpanor Boonklum, Partner which also included Kom Vachiravarakarn, Senior Associate, Sawita Peetawan, and Trinuch Chuenchomlada, Associates, 

  • Weerawong, Chinnavat & Peangpanor advised Ananda Development on a major debenture offering
  • Weerawong, Chinnavat & Peangpanor Ltd. (Weerawong C&P), represented Ananda Development Public Company Limited on an offering of unsecured and unsubordinated debentures, valued at up to USD 100 million (THB 3 billion), in which Bualuang Securities Public Company Limited, CIMB Thai Bank Public Company Limited acted as arrangers, and Asia Plus Securities Public Company Limited acted as co-manager. The transaction closed on July 4, 2013.

    The project team was led by Peangpanor Boonklum, Partner, and also included Jongtip Tangsripairoje, Senior Associate, and Chumpicha Vivitasevi, Associate.

  • Weerawong, Chinnavat & Peangpanor advised Ananda Development on a Joint Venture with Mitsui Fudosan
  •  
    Weerawong, Chinnavat & Peangpanor Ltd. (Weerawong C&P) advised Ananda Development Public Co., Ltd. (Ananda), a real estate development company listed on the Stock Exchange of Thailand, on a joint venture transaction with SEA Investment Five Ptd. Ltd., a subsidiary of Mitsui Fudosan Residential Co., Ltd. to develop property projects in Thailand. The joint venture combines the experience of two leading property developers with the intent to co-invest in premier real estate projects - and to mutually benefit through sharing knowledge and experience. The joint-venture agreement was signed on 18 June 2013.
     
    Peangpanor Boonklum, Executive Partner, led the project team with support from Pakdee Paknara, Partner, and Ekachai Chotipitayasunon, Senior Associate.
  • Weerawong, Chinnavat & Peangpanor advised Nok Air on IPO
  •  
    Weerawong, Chinnavat & Peangpanor Ltd. (Weerawong C&P) represented Nok Airlines Public Company Limited (Nok Air) on its corporate restructuring, and initial public offering (IPO) on the Stock Exchange of Thailand (SET). The IPO comprised 187.5 million shares for a total offering size of THB 4,875 million (USD162.5 million approximately). The Siam Commercial Bank acted as financial advisor, with SCB Securities acting as lead underwriter, along with six co-underwriters, namely Country Group Securities, Finansia Syrus Securities, KASIKORN Securities, Maybank Kim Eng Securities (Thailand), RHB OSK Securities (Thailand), and Thanachart Securities. The transaction closed on June 10, 2013 and the trading date on the SET was set for 20 June 2013.
     
    Kudun Sukhumananda, Partner, led the project team, which also included Kom Vachiravarakarn, Senior Associate, and Sawita Peetawan, Associate.
  • Weerawong, Chinnavat & Peangpanor advised on the establishment and offering of the BTS Rail Mass Transit Growth Infrastructure Fund, the largest IPO in Thailand to date
  •  
    Weerawong, Chinnavat & Peangpanor Ltd. (Weerawong C&P) represented Bangkok Mass Transit System Plc. (BTSC), the concessionaire that operates the sky train system in Bangkok, and its parent company BTS Group Holdings Plc. (BTSG), on the establishment and initial public offering (IPO) of the investment units of BTS Rail Mass Transit Growth Infrastructure Fund (BTSGIF) in Thailand and internationally. With an offering size of USD 2.1 billion (approximately THB 62.5 billion), BTSGIF is Thailand’s biggest IPO ever, and is the third largest IPO globally in 2013. BTSGIF units commenced trading on the Stock Exchange of Thailand on 19 April 2013.
     
    The underlying assets transferred by BTSC to BTSGIF are net farebox revenue for the remaining period of 17 years of the Concession Agreement granted by the Bangkok Metropolitan Administration. BTSG has provided BTSGIF a support and guarantee of the performance of BTSC and also subscribed for one-third of the units.
     
    The offering received a strong response from local investors in Thailand and institutional investors around the world. Despite the current economic malaise in many global markets, BTSGIF had almost 56,900 subscription applications from General Subscribers (retail investors), totaling approximately THB 16 billion, considered to be the highest number of subscription applications in an equity IPO to retail investors in Thailand. BBL Asset Management is the management company for BTSGIF, while Phatra Securities acted as the sole domestic book runner, and Morgan Stanley & Co. International, and UBS AG (Hong Kong Branch) were joint international book runners.
     
    The project, led by Peangpanor Boonklum, Partner, involved practice expertise in capital markets, general corporate work, mergers and acquisitions, and banking and finance. Key members of the project team included Associates: Kom Vachiravarakarn, Karnpitcha Kongkiattiwong, Jongtip Tangsripairoje, Kongkoch Yongsavasdikul, Pratumporn Somboonpoonpol, and Pariyapol Kamolsilp.

     
  • Weerawong, Chinnavat & Peangpanor advised Erawan Hotel Growth Property Fund on IPO
  • Weerawong, Chinnavat & Peangpanor Ltd. (Weerawong C&P) represented The Erawan Group, The Siam Commercial Bank, and SCB Asset Management on the IPO and listing of investment units in Erawan Hotel  Growth Property Fund (ERWPF) on the Stock Exchange of Thailand. The transaction closed on April 4, 2013 and was valued at US$63.2 million (approximately). The ERWPF invested on a freehold right basis in the Ibis Patong Hotel in Phuket, and the Ibis Pattaya Hotel in Chonburi,Thailand. Both hotels have guest capacity in excess of 250 rooms. The Siam Commercial Bank acted as underwriter for the transaction which consisted of an offering of 176 million investment units. SCB Asset Management acted as fund manager.

    Kudun Sukhumananda, Partner, led the project team, which also included Associates; Samata Masagee, Mayuree Sapsutthiporn, Thitiporn Chaowasakoo, Real Estate Specialist, Chusak Suwanpuchai and legal Assistant Anusith Doungjai.
     

  • Thailand, 8 March 2013 − Weerawong, Chinnavat & Peangpanor advised Berli Jucker on a strategic share acquisition in Vietnam
  • Weerawong, Chinnavat & Peangpanor Ltd. (Weerawong C&P) represented BJC International Company Limited (BJIHK), a 100% subsidiary of Berli Jucker Public Company Limited (BJC), on the acquisition of shares in a leading distribution, import/export company in Vietnam. The share acquisition enabled BJIHK to own the equivalent of a 65% interest in Thai An Vietnam Joint Stock Company (Thai An). The investment by BJIHK supports BJC’s strategy to expand its sales and distribution channels in Vietnam and neighboring countries in the lead-up to the AEC (ASEAN Economic Community) launch. Troy Schooneman, Partner, led the project team which also included Jeffrey Sok, Senior Associate. The transaction closed on March 8, 2013.
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