August 29, 2018 / 10:39 AM / in 3 months

Thailand again delays launch of infrastructure fund, until October

BANGKOK, Aug 29 (Reuters) - A multi-billion dollar infrastructure fund planned by the Thai government, first announced in 2015, will be launched in October, delayed again from September, a senior finance ministry official said on Wednesday.

The government aims to use the “Thailand Future Fund”, intended to eventually reach 100 billion baht ($3.06 billion), to finance investments to boost economic growth. Its rollout has been repeatedly delayed.

On Wednesday, the ministry filed an application for a fund offering with the Securities and Exchange Commission, Prapas Kong-Ied, director-general of the State Enterprise Policy Office, told reporters.

The ministry aims to meet potential investors next month and sell shares in October.

The fund will initially sell units worth 45 billion baht to the public, with an expected interest rate of 3-4 percent, Prapas said, adding the fund units will be listed on the Thai bourse. ($1 = 32.71 baht) (Reporting by Kitiphong Thaichareon; Writing by Orathai Sriring; Editing by Richard Borsuk)

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