DTAC puts off IPO

21 Nov 2006

Thailand’s second largest cellco Digital Total Access Communication (DTAC) has pushed back its planned listing on the Thai bourse from late this year to ‘sometime next year’ after failing to conclude the de-listing plan of its parent United Communication Industry (Ucom), writes local paper The Nation. An initial public offering (IPO) on the Stock Exchange of Thailand (SET) this year would have qualified Singapore-listed DTAC for a 5% reduction in corporate tax, from 30% to 25%, for the next five years in line with Finance Ministry incentives to encourage Thai companies to float on the SET. Under SET regulations, after DTAC’s listing, Ucom has to be de-listed from SET within six months. However, DTAC said that it is not yet able to conclude a ‘satisfactory de-listing plan’ with Ucom this year.

Thailand, Digital Total Access Communication (DTAC)