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.