True Corporation Public Company Limited (TRUE) announced that the Board of Directors Meeting held on 29 September 2020 has approved the disposal of investment units of the Digital Telecommunications Infrastructure Fund (DIF) held by the Company and its subsidiaries in the total amount of not more than 300,000,000 units (represents approximately 2.822% of the total investment units of the Fund) to investors who are not connected person with the Company whereas the selling price of the investment units was determined through the book building process.
TRUE sold the investment units of the Fund to the investors in the amount of 298,113,200 units equal to 2.804% to the investors who are not considered as connected persons with the Company. Total value of consideration was determined through the book building process, amounting to baht 4,024.528 million. After the sale of such investment units, the unitholding proportion of TRUE decreased from 26.183% to 23.379% of total investment units of the Fund.
TRUE’s expected benefits from the transaction is to reserve as working capital of the Company Group.
As of September 29, the share price of DIF closed at ฿14.20/share.