DTAC To Delist Ucom, List Its Shares On SET

Total Access Communication Plc (DTAC) is likely to list its shares on the Stock Exchange of Thailand (SET) in December. Also the company is considering to delist parent company United Communication Industry (Ucom) from the SET.
DTAC, majority-owned by Norwegian Telenor, is the second-largest cellular operator in Thailand.
”Our plan is for DTAC to dual-list in December this year, as we partially want to receive tax benefits from the share offering,” said Sigve Brekke, DTAC’s chief executive officer, according to English newspaper Bangkokpost.
DTAC is now listed on the Singapore Stock Exchange. Executives of both DTAC and Ucom have been in talks with Thai market regulators about the dual listing of DTAC and the delisting of Ucom.
Brekke said the dual listing of DTAC had been complicated by SET rules.
”The SET doesn’t want to have both Ucom and DTAC listed. So, we’re currently discussing the issue with the SET and the Securities and Exchange Commission and the result will be finalised soon.”
A listing on the SET would offer an opportunity to Thai investors to become shareholders of DTAC and allow the company to enjoy a tax benefit as firms listed on the SET were subject to a corporate tax reduction to 25% from the regular rate of 30%, for five financial years.

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