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China Mobile Ltd announces subscription of interest in True Corporation Public Company Limited


Monday, 9 Jun 2014 08:00am EDT 

China Mobile Ltd:Says that on June 9, 2014, China Mobile International Holdings Limited (CMI Holdings), a wholly-owned subsidiary of the company, entered into the Share Subscription Agreement with True Corporation Public Company Limited (True Corporation).Says In connection with this Subscription, the company also entered into the Business Cooperation Framework Memorandum of Understanding with True Corporation.True corporation agrees to issue to CMI Holdings and CMI Holdings agrees to subscribe from True Corporation 4,429,427,068 ordinary shares of True Corporation with a par value of Baht 10 per share.The subscription price per CMI Holdings Subscription Share is Baht 6.45 (or HKD1.54), with a total consideration of Baht 28.57 billion (or HKD6.82 billion).Concurrently with the allotment and issuance of the CMI Holdings Subscription Shares, True Corporation will allot and issue 5,648,285,818 new shares by way of rights issue to its existing shareholders as of the relevant book closure date at the price of Baht 6.45 per share.Upon the completion of the Subscription and Rights Issue, the CMI Holdings Subscription Shares would represent 18 pct. of the total issued and outstanding shares of True Corporation.Following the subscription, True Corporation’s existing controlling shareholder, Charoen Pokphand Group Co. Ltd. will remain as the single largest shareholder of True Corporation. 

Company Quote

75.0
0.71 +0.96%
24 Apr 2015