BMCL to delay IPO launch till subway is operational.

(From Thai Press Reports)

Section: Stocks - Bangkok Metro (BMCL), the operator of Thailand's first subway system, said it will delay its initial public offering (IPO) plan further from the original schedule of the second quarter of next year as recommended by the financial advisor that wants to see it generate a revenue stream while operating prior to going on with the IPO plan.

"Our financial advisor recommends that the IPO should be on sale once the subway system is in full service for awhile, and manages to bring in a steady revenue. So, I could not confirm you as to when the IPO schedule for BMCL would be," BMCL's managing director Sombat Kitjalaksana. …