Thai telco TT&T has withdrawn its lawsuit over the ownership of local broadband provider Triple T, paving the way for ISP Jasmine International’s plans to list its infrastructure fund.
Triple T’s network forms part of the assets that make up the…
Thai telco TT&T has withdrawn its lawsuit over the ownership of local broadband provider Triple T, paving the way for ISP Jasmine International’s plans to list its infrastructure fund.
Triple T’s network forms part of the assets that make up the planned Jasmine Broadband Internet Growth Infrastructure Fund, which could reportedly raise more than US$1bn and have a market cap of as much as US$2.2bn.
The legal action, coupled with Thailand’s political instability, has contributed to delaying the launch of the fund since 2013.
Jasmine has hired JVS Financial Advisory for financial advice relating to the fund. Bualuang Securities and Morgan Stanley have reportedly been lined up as underwriters for the IPO.
The ISP aims to retain a third of the fund, which is set to include a 610,000km fibre network and 16,000 nodes, and use the proceeds to expand its broadband business.
