In today’s briefing:
- Thaicom: Gulf Energy’s Low-Balled MTO Now Open For Acceptances
- KTC – The Quiet
Thaicom: Gulf Energy’s Low-Balled MTO Now Open For Acceptances
- Back on the 7 November, Intouch Holdings (INTUCH TB)‘s board approved the sale of its 41.13% stake in Thaicom Pcl (THCOM TB) to Gulf Energy Development Public Company (GULF TB).
- The sale price was Bt 9.92/share, a 19.3% discount last close. Intouch shareholders overwhelmingly approved the sale on the 28 December, which subsequently triggered an MTO.
- The Offer is now open for acceptances. The Offer closes on the 9 February. Intouch will pass through 100% of the sale proceeds via a special dividend.
KTC – The Quiet
- Quietly KTC has seen its bad loans and credit costs rise
- During last year it saw a final surge in credit costs in the last quarter
- Market share losses and regulatory risk may continue to pressure its 5x PB
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
