Bangkok--10 Feb--Aziam Burson-Marsteller
True Corporation PLC (SET: TRUE) today announced that preliminary results of its rights offering indicated strong support from CP Group, its major shareholder.
The subscription period, which ran from February 2-6, saw shareholders subscribe to approximately 3,272,885,226 shares raising approximately Bt 6,382 mn in total.
CP Group, subscribed to a total of 2,770,000,000 shares, representing 27.7 percent of the total rights issue, in line with its earlier commitment of support for True and the rights offering. The remaining 502,885,226 shares were subscribed to by minority shareholders.
True will report the official results of the rights offering to the Stock Exchange of Thailand by February 20. Any potential offering of unsubscribed shares will be decided by True’s Board of Directors and reported accordingly.
The rights offering comprises ten billion shares priced at Bt 1.95. The entitlement was set at 2.22 new shares for each existing share. Shareholders could also subscribe for additional shares, not more than two times in excess of their entitlement.
True is undertaking this recapitalization in order to strengthen its balance sheet and pursue future growth opportunities such as 3G.
For more information (media enquiries only), please contract:
Corporate Communications & Marketing PR — True Group
Pimolpan Siriwongwan-ngam
Tel: +66 (0) 2699 2772
Email: [email protected]
Sisadhi Reuben
Tel:+66 (0) 2699 2782
Email: [email protected]