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DTAC announced to move ahead with its plans to seek a listing of its shares on the Stock Exchange of Thailand and a delisting of UCOM
March 21, 2007
BANGKOK -- DTAC today announced to move ahead with its plans to seek a listing of its shares on the Stock Exchange of Thailand (the “SET”) and a delisting of UCOM.
“This is a very significant step for DTAC. Given our improving market share, financial strength and strong growth potential, it’s the right time to share ownership of our Company with local investors. This transaction, which promises to be one to the largest offerings in Thailand this year, shows our confidence not only in the bright prospects for DTAC but also for Thailand as a whole.” said Chief Executive Officer Sigve Brekke.
On 19 March 2007, the company’s board approved DTAC’s listing and UCOM’s delisting plans. The plan is one transaction with two steps. First, following a proposed 1:5 par split, DTAC will launch an offering that will consist of 222 million shares. Second, once DTAC is listed on the SET, the Company will launch an offer for all of the shares of parent UCOM in exchange for newly issued DTAC shares. Once completed UCOM would be a de-listed subsidiary of DTAC.
“I am confident that the shareholders of DTAC and UCOM will find the plan fair and beneficial for all. The offer from DTAC will give the UCOM shareholders approximately 39 DTAC shares for 100 UCOM shares at today’s par value.” said Mr. Brekke
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