Bangkok--3 Aug--Aziam Burson-Marsteller
The success reflects investor confidence in the company’s 3G and 4G networks with the widest coverage in Thailand
TrueMove H Universal Communication, a subsidiary of True Corporation Plc, reported the success of its recent public offering of debentures, which received overwhelming interest from both retail and institutional investors that resulted in an oversubscription rate of about three times the initial amount offered. Due to market demand, the company increased the offer from the original 7.5 billion Baht to the full amount of 10 billion Baht. The success of the offer reflects investors’ confidence in the future of True Group’s mobile business for both its 3G and 4G technology platforms.
Mr. Noppadol Dej-Udom, True Corporation’s Group Chief Financial Officer, said, “True Group would like to thank all investors for their interest in and support for the debenture sale. The strong demand prompted the company to allocate additional debentures worth 2.5 billion Baht that were reserved as a greenshoe option, bringing the total offer amount to 10 billion Baht. Investors’ strong interest in TrueMove H Universal Communication reflects their long-term confidence in True Group’s management and business operations, particularly in our strong wireless communication platforms comprised of 3G, 4G and WiFi networks.”
TrueMove H Universal Communication recently offered unsubordinated and unsecured 3-year debentures with the debenture holders’ representative totaling Baht 7.5 billion, together with the greenshoe portion of Baht 2.5 billion. The company offered a fixed coupon rate of 4.20% per annum with interest payments every quarter until maturity. The debentures were priced at 1,000 Baht per unit with a minimum subscription of 100,000 Baht and in multiples of 100,000 Baht. The debentures were distributed through three leading banks: Bangkok Bank, Krungthai Bank, and Siam Commercial Bank, on July 23-24 and July 27-28, 2015.