Mobile operator DTAC to list on Thai bourse

0 Comments | AFP, March, 2007

BANGKOK (AFP) — Total Access Communication, Thailand's second largest mobile phone operator, said Wednesday it would float shares on the local stock exchange in a bid to raise at least 172 million dollars.

DTAC, which is controlled by Norwegian telecom giant Telenor, plans to raise at least six billion baht (172 million dollars), one third of which would be used for network expansion and the rest mainly to repay debt.

The listing is expected to take place by June and would be the biggest offering in the local bourse since 2003, it said.

It will also make DTAC the first Thai firm to list on both the Singapore and the Thai exchanges.

"Given our improving market share and strong growth potential, it's the right time to share ownership of our company...