On August 29, 2019, True Corporation Public Company Limited (TRUE) has announced the completion of transactions with Digital Telecommunications Infrastructure Fund (DIF) by TRUE and its subsidiaries.
The assets thatTRUE’s subsidiaries i.e. True Move H Universal Communication Company Limited (TUC), Real Move Company Limited (RMV) and True Internet Corporation Company Limited (TICC) had disposed to DIF are as follows;
1) 788 telecommunication towers.
2) Fiber optic cables (FOC) for a length of approximately 107,694 core kilometers of Mobile Access UPC (approximately 1,795 kilometers).
3) FOC for a length of approximately 40,823 core kilometers of FTTx Access BMA (approximately 315 kilometers).
4) FOC for a length of approximately 147,209 core kilometers of FTTx Access UPC (approximately 3,414 kilometers).
The total consideration of the disposal of the aforementioned assets to Digital Telecom Infrastructure Assets is approximately THB 15,677 million.
Moreover, TRUE’s subsidiaries i.e. TUC and TICC had leased certain Additional Telecom Infrastructure Assets from DIF as follows;
1) Certain slots on the Telecommunication Towers in which the lease period will expire on 15 September 2033.
2) Approximately 80% of the FOC Mobile Access UPC.
3) Approximately 80% of the FOC FTTx Access BMA.
4) Approximately 80% of the FOC FTTx Access UPC.
The lease rate are calculated based on the condition stipulated in the relevant contracts. Lease period of assets specified in (1) to (4) above will expire on September 15, 2033 which may be extended for another 10 years after the expiry of the first lease period or until the expiry of the obtained license for operating telecommunication business (whichsoever is earlier), upon fulfillment of the prescribed conditions.
In addition, TRUE and its subsidiary i.e. RMV had subscribed to, and have been unitholders of the additional 298,113,207 units at the subscription price of Baht 15.90 per unit, totaling to approximately THB 4,740 million, which is equivalent to approximately 30% of the investment units being offered in this offering, or equivalent to approximately 30% of the total number of investment units in DIF when combined with the investment units held by TRUE prior to this offering.