Thai True Corp shares fall after new share issuance

BANGKOK, June 10 Mon Jun 9, 2014 11:13pm EDT

BANGKOK, June 10 (Reuters) - Shares in Thailand's True Corporation Pcl fell on Tuesday due to worries over stock dilution after new issuance, including an offering via a private placement to China Mobile Ltd.

True Corp shares fell 2 percent to 7.3 baht ($0.22), compared with an offer price of 6.45 baht for the new shares.

Shares in other Thai mobile phone operators dropped on worries about increased competition in the industry now China Mobile is backing True. Sector leader Advanced Info Service lost 3 percent and number two Total Access Communication Pcl dropped 6.3 percent.

($1 = 32.4800 Thai Baht) (Reporting by Viparat Jantraprap; Editing by Alan Raybould)

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