BTS Skytrain Carve-Out: The Return of the Infrastructure Trust Fund Harvard Case Solution & Analysis

In 2013, the long-delayed IPO of the Bangkok Mass Transit System Public Co. Ltd. (BTSC) took place, but in an unusually sophisticated type. Instead of selling the shares of the company that owned the elevated railway concession, what was offered were investment units in Thailand's first publicly listed infrastructure mutual fund: the BTS Rail Mass Transit Growth Infrastructure Fund (BTSGIF). Earnings from the IPO were used to acquire from BTSC the rights to the net farebox revenue generated from the railway. The investment exposed investors not only to the managing risk of the railroad track, but to other types such as political risk.

This is just an excerpt. This case is about FINANCE & ACCOUNTING

Related Case Solutions & Analyses:

Preem (B) Circles: Series D Financing Monique Leroux Leading Change At Desjardins American Barrick Resources Corporation – The Lac Decision Canadian Occidental Petroleum Ltd.: The Wascana Energy Inc. Decision Clearnet Communications Inc. CoWest Energy Edgestone Capital Equity Fund Far Eastern Textile Ltd.: The SIZeS Offering Four Seasons Hotels and Resorts Inc.