Bangkok--11 Jun--DTAC
Total Access Communication Public Company Limited (DTAC) received an approval from the Securities and Exchange Commission (SEC) for its listing on the Stock Exchange of Thailand (SET). The first trading day for DTAC stock is scheduled on June 22. The company has set the price range between 35-42 baht. Good responses are expected during the subscription period on June 12-13 at over 1,500 branches of Kasikorn Bank and Siam Commercial Bank nationwide.
Chief Executive Officer Sigve Brekke disclosed that the initial public offering (IPO) had been approved by the SEC. The Company will offer 222 million shares, which made up of 9.36% of the company’s total shares. The 222 million shares come from 140 million DTAC common shares held by UCOM and 82 million capital-increase shares at 2 baht par value. With the intension to make this offering the People’s IPO , the company has allocated 65% of the total shares for local retail investors while the rest will go to institutional investors. This allows Thai people to own DTAC and be a part of the company’s future success.
This week, the company has conducted a series of roadshows in Bangkok, Khon Kaen, Chiang Mai and Phuket to promote its offering among local retail investors. The retail investors are guaranteed a minimum allocation of 500 shares. However, if the number of shares subscribed through the banks is equal to or higher than 1.5 times of the total number of shares offered to the retail subscribers, the subscription will be closed within the following hour. DTAC also guarantees a minimum of 500 shares, but not over 3,000 shares, to all of its 4,500 employees and does not allow the top management to buy the shares to ensure fairness and transparency.
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