Thailand's TCC targets $1.6bn in IPO of property arm

Asset World eyes land for tourist hotels and Bangkok complexes

201909012N Asiatique riverfront thailand

The Asiatique riverfront shopping center is Asset World's flagship property in Bangkok. © Asset World Corp.

MARIMI KISHIMOTO, Nikkei staff writer

BANGKOK -- Thailand's TCC Group expects to raise as much as 48 billion baht ($1.57 billion) by listing a real estate subsidiary, in what could be the biggest initial public offering by a company here outside of an investment fund.

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