True Corporation's rights issue only one-third subscribed (Thailand)

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True Corporation's rights issue only one-third subscribed (Thailand)

March 15, 2009

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Thailand's True Corporation has been able to raise just 6.38 billion Thai baht from a rights issue, way below its target of 19.5 billion Thai baht.

Only 32.73 per cent of the 10 billion new shares have been subscribed to. The remaining 6.73 billion shares will be offered to the company's shareholders later this year. The mobile, fixed line and broadband operator is seeking funds partly for its subsidiary True Move's plan to launch 3G/3.5G services.