True Infrastructure Fund Seeks $1.8 Billion From Thailand IPO

True Telecommunications Growth Infrastructure Fund, backed by Thai billionaire Dhanin Chearavanont’s True Corp. Pcl, is seeking $1.8 billion in the country’s second-largest initial public offering.

The fund is offering as many as 4.76 billion units at 10 baht apiece to institutional and retail investors, according to terms for the deal obtained by Bloomberg News. Bangkok-based True Corp., operator of Thailand’s third-largest cellular network, will buy 1 billion units and hold at least 18 percent of the fund, the document shows.