Arnut Pongprueksa

Associate


Contact Details

T: + 66 2 264 8000
F: + 66 2 657 2222
Email:

Arnut Pongprueksa is an associate in the capital markets practice group. Arnut advises clients in transactions and projects in a variety of industries, both domestically and internationally. He also has experience advising on corporate-M&A, initial public offerings, foreign direct investment, infrastructure projects and public-private partnerships.

Capital Markets

Representation of Sri Trang Gloves (Thailand) Public Company Limited (STGT), ranked third globally in rubber glove production, in connection with its THB 14.9 billion (USD 482 million) initial public offering on the Stock Exchange of Thailand on 2 July 2020.

Representation of PTT Oil and Retail Business Public Company Limited (OR) on the initial public offering of its shares to domestic institutional and retail investors as well as international institutional investors under Rule 144A/Regulation S of the US Securities Act and the listing of its shares on the Stock Exchange of Thailand. The size of OR’s IPO is approximately THB 54 billion, equivalent to USD 1.8 billion (including the offering of the over-allotment shares). This is a landmark transaction as it is considered the 2nd largest IPOs of a Thai company.  Its shares were heavily over-subscribed by approximately 480,000 retail investors, the largest number of retail investors subscribing for shares in an IPO in the history of the Thai capital markets.  Due to its popularity, OR shares were fast-tracked into the calculation of the SET 50 and SET 100 indices within 3 business days after the first day of trading. 11 February 2021

Representation of Index Living Mall Co., Ltd. (ILM), a retail home furnishings company with 36 branches in Thailand and a network of retailers in seven countries, in its THB 2,310 million initial public offering, with a market capitalization of THB 11.11 billion, on 26 July 2019.

Corporate-M&A

Representation of SCB Securities Co., Ltd., a subsidiary of The Siam Commercial Bank Public Company Limited, the proposed acquisition of 51% interest in Bitkub Online Co., Ltd. (Bitkub), a leading digital asset exchange in Thailand, from Bitkub Capital Group Holdings Co., Ltd. The transaction value is worth approximately THB 17.85 billion. The total market capitalization of Bitkub is THB 35 billion, marking another Thai "unicorn". The investment in Bitkub is based on the recognition of significant growth opportunities in the digital asset business and will enable SCBS, as a major shareholder, to further develop the digital asset ecosystem in Thailand. The deal was signed on 2 November 2021 and is expected to be completed by the first quarter of 2022.

Representation of Muang Thai Life Assurance Co., Ltd. in an agreement with Land and Houses Bank Public Company Limited in relation to the sale of life insurance policies in 11 May 2020. The deal enabled Muang Thai Life Assurance to form a business collaboration with LH Bank and to diversify its insurance sales channel. 

Representation of TCC Assets Co., Ltd. in relation to the joint investment through Siridamrongdham Co., Ltd. and Bhakdivattana Co., Ltd. with GMM Grammy Public Company Limited in digital television, radio and online broadcasting and content provider businesses, namely, GMM25 digital TV channel, EFM 104.5Mhz, Green Wave 106.5Mhz, Chill Online and GMM TV by the subscription of 50% newly-issued shares in GMM Channel Trading Co., Ltd. The deal valued at THB 1 billion (USD 32 million) closed in December 2017.

Representation of PTT Public Company Limited, Thailand's largest energy firm, in an oil retail spin off and THB 120 billion restructuring. PTT Pcl restructured its oil marketing and retail business, renamed as PTT Oil and Retail Business Co Ltd (PTTOR), including more than 1,400 service stations, representing 40 percent of Thailand's petrol station market. The deal involved the transfer of assets, undertakings, licenses, IP and contract in more than 20 jurisdictions.

Representation of Prananporn Co., Ltd. in the acquisition of newly issued shares in The One Enterprise Co., Ltd. (“The One Enterprise”), resulting in Prananporn Co., Ltd. holding 50% of the total shares in The One Enterprise. The One Enterprise is the parent company of (i) GMM One TV Co., Ltd. (a digital TV company), (ii) Act Studio Co., Ltd. and (ii) Exact Scenario Co., Ltd. The deal closed in May 2017 and was valued at THB 1,905 million (31 May 2017).

Representation of Origin Property Public Company Limited (ORI) in the THB 4 billion acquisition of all shares in Proud Residence Co., Ltd., the developer of The Park 24, a luxury condominium project in the central business district of Bangkok. At the same time, ORI offered newly-issues shares valued at THB 1 billion under private placement to the existing shareholders of Proud Residence. The deal closed on 2 October 2017.

Representation of Advanced Info Service Public Company Limited, the largest mobile telecommunications operator in Thailand, in the acquisition of a majority stake in CS Loxinfo Public Company Limited, one of Thailand’s leading internet and media business companies, from Singapore Telecommunications Limited and Thaicom Public Company Limited in a voluntary tender offer by its subsidiary, Advanced Wireless Network Co., Ltd (AWN) and the subsequent delisting tender offer by AWN. The deal valued at THB 2.6 billion (USD 78.57 million) closed in October 2017.

Infrastructure Projects

Representation of Bangkok Mass Transit System Public Company Limited on the renewal of the concession contract for the Green Mass Transit Line, as well as the related PPP regulations under Clause 44 of the Constitution of Thailand. The Green Line is the first and the main sky train line passing through all central business districts of Bangkok. This renewal contract includes both the main line and the extensions, with a total distance of 60 km. (2019-2020). THB 300 billion (USD 9.8 billion)

Representation of the Government of Thailand, Office of the Eastern Economic Corridor in the public-private partnership (PPP) agreement to develop the THB 220,000 million (USD 7.2 billion) high-speed rail project linking Suvarnabhumi, Don Mueang and U-tapao airports, including negotiating and leading the drafting of the concession agreement, as well as presenting key concession agreement terms to the EEC Policy Committee chaired by Prime Minister Prayut Chan-o-cha. The high-speed rail link is the biggest PPP concession project in Thailand and the first concession granted on a high-speed train project. The main private sector project operators include Charoen Pokphand Group (CP), Italian-Thai Development Public Company Limited (ITD), China Railway Construction Corporation Limited (CRCC), CH. Karnchang Public Company Limited (CK) and Bangkok Express and Metro Public Company Limited (BEM). The agreement was signed at Government House on 24 October 2019.

Representation of the Government of Thailand, Office of the Eastern Economic Corridor in the public private partnership (PPP) agreement signed by the Industrial Estate Authority of Thailand and Gulf MTP LNG Terminal for the Third Phase of the Map Ta Phut Port Project valued at THB 55.4 billion (USD 1.8 billion). The Third Phase of the Map Ta Phut Port Project is an infrastructure project for the petroleum industry and is designed to facilitate the annual shipment of 19 million tonnes of natural gas and liquid cargo. The Gulf MTP LNG Terminal is a joint venture between Gulf Energy Development and PTT Tank Terminal. Weerawong C&P played a major role in the deal, including negotiating and leading the drafting of the concession agreement, as well as presenting key concession agreement terms to the EEC Policy Committee chaired by Prime Minister Prayut Chan-o-cha. The PPP agreement was signed on 1 October 2019.

Others

Advising and assisting Big C Supercenter Public Company Limited in relation to the preparation of documents and information for clarification of its business practices for the Office of Trade Competition Committee. (30 March 2020)

Education

MCL (First Class Honors), University of Cambridge, UK, 2021

LL.B. (Honors), Thammasat University, 2016

Lawyers License, Lawyers Council of Thailand, admitted 2018

Citizenship

Thai

Languages

Thai, English

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