TA Orange to raise capital through network expansion

16 Jan 2004

Orange’s Thai unit, TA Orange, has revealed plans to issue new shares to fund network expansion in a bid to raise its capital expenditure for 2004. The company’s CEO Supachai Chearavanont said that it would also invest between THB5 million and THB6 million (USD128 million – USD154 million) from cash flow on expanding its network this year. The company hopes to record its first net profit in 2005 since its launch in March 2002. At the end of 2003 it had around 1.8 million subscribers, around 7% of the market.

Thailand, True Move