DTAC to list on SET

20 Sep 2005

Thai cellco Digital Total Access Communications (DTAC) has announced plans to issue shares on the Stock Exchange of Thailand (SET), whilst maintaining its listing on the Stock Exchange of Singapore, becoming the first Thai company to be listed on both exchanges. DTAC will issue 16.4 million new shares in an IPO to Thai investors and has appointed SCB Securities as its financial adviser. The shares are intended to replace the 16.4 million previously held by state-owned incumbent TOT Corp, which gave up its holding earlier this year to settle a dispute with DTAC concerning access charges. The new shares must be taken up by domestic investors to prevent DTAC’s foreign shareholding passing the 49% limit set by Thai law.

Thailand, Digital Total Access Communication (DTAC)