Thailand's best securities house 2021
Kiatnakin Phatra Securities
Over the past two years, a handful of billion-dollar deals came to Thailand’s capital market – and Kiatnakin Phatra Securities was in the hot seat for some of them.
Phatra, led by president Supachoke Supabundit, was responsible for about $3 billion in primary equity fundraising for its clients in the year to June 30, 2021. In the first half of 2021 alone, it handled more than Bt2.4 trillion ($72.7 billion) in securities trades, according to data from the Stock Exchange of Thailand.
Phatra had a leading position on the largest IPO of the year – PTT Oil and Retail Business’s Bt47 billion ($1.4 billion) listing in February 2021. It completed the deal alongside Bualuang Securities, Finansa Securities, Kasikorn Securities and Tisco Securities. Bank of America, JPMorgan and Morgan Stanley were the global co-ordinators.
The local bookrunners carried out the roadshow for the deal in January. Despite an outbreak of Covid-19 at the time, the syndicate team was able to price the IPO shares at the top of the marketed range.
Phatra achieved top-end pricing for Ngern Tid Lor’s listing in April, when the country was rocked by a more severe resurgence of the virus.