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Thailand's best domestic investment bank 2023: Kiatnakin Phatra Securities

Kiatnakin Phatra Securities

Anuwat Ruamsuke, Kiatnakin Phatra Securities.jpg
Anuwat Ruamsuke, KKPFG

Kiatnakin Phatra Securities’ investment banking and capital markets business, led by Anuwat Ruamsuke, held up well in the past year despite a sharp drop in deal flow.

Kiatnakin’s breadth and depth helped it to win some key mandates across debt and equity capital markets, and in mergers and acquisitions.

An important deal was the jumbo Bt37.1 billion ($1.1 billion based on July exchange rates) IPO of Thai Life Insurance. This was the largest IPO in Thailand last year, as well as the largest-ever listing from the insurance sector. Kiatnakin was a financial adviser and a global coordinator.

Another landmark listing was the Bt20 billion deal for food company Betagro. This was the second-largest IPO ever from the food and agriculture industry in Thailand, and again, Kiatnakin was a financial adviser and global coordinator.

Kiatnakin showed its willingness to take on risks for the right names. A case in point is a chunky Bt11.9 billion sell-down in Bumrungrad Hospital by one of its shareholders. Kiatnakin was sole bookrunner on the trade, as the seller wanted to keep the deal confidential.