Thai mobile operator Digital Total Access Communication (DTAC) is to de-list from the Singapore Stock Exchange within three years.
In a statement cited by Dow Jones, Thailand’s number two cellco said it would first change its listing status from…
Thai mobile operator Digital Total Access Communication (DTAC) is to de-list from the Singapore Stock Exchange within three years.
In a statement cited by Dow Jones, Thailand’s number two cellco said it would first change its listing status from secondary to primary.
According to CFO Vanna Pornsinsiriruk, there is little reason to maintain “rather illiquid” securities – just 1% of the company’s outstanding shares are traded on the Singapore exchange.
DTAC, which listed in Singapore in 1995 and then debuted in Thailand 2007, will keep its Bangkok listing.
The company also plans to increase its debt levels as part of a financial restructuring plan due by the first half. Options for this include loans, project financing, bonds, other financial instruments, or a higher dividend payout.
Pornsinsiriruk said DTAC currently has THB12.6bn (US$410m in cash, as well as some THB5bn in bonds due in August.
