INTUCH Falls 5% in Panic over Temasek to Raise ฿15.6bn from Selling 18% of INTUCH!

INTUCH falls 5% in a panic over the report of Temasek to raise THB 15.6 billion from selling 18% of INTUCH.

In the morning of the trading session on Thursday, August 15, 2019, Bloomberg has reported by citing the people familiar with the matter who requested not to be named that Aspen Holdings and Anderton Investments, Temasek’s investment units, raised THB 15.6 billion after pricing a placement of Thailand’s Intouch Holdings Public Company Limited (INTUCH) near the bottom of a marketed range.

Shares were offered at ฿60.5/share to ฿62.0/share, representing 3.9%6.2% discount to the closing price at ฿64.50/share on August 14, 2019. Aspen holds 2.11% in INTUCH while Anderton holds 15.9% before the sale.

Bloomberg has also stated that Credit Suisse is among arrangers of the deal.

As of 10:40 local time in Thailand, the share price of INTUCH has fallen to ฿61.00/share, plunged ฿3.50/share or 5.43% with a trading value of THB 8.13 billion.