Announcing the merger of “True-DTAC” to “Tech-Telecom” Company Total show market cap of approximately 294 billion baht, moving forward with the main strategy to change the way of life of Thai people reduce inequality
March 3, 2023 – Mr. Manus Manavutthiwet, Chief Executive Officer of True Corporation Public Company Limited, revealed that DTAC and True have successfully merged into a new company. By obtaining a new company certificate as officially submitted to the Public Company Registrar, Department of Business Development, Ministry of Commerce, this is the largest telecommunications merger in Southeast Asia by business value. The combined market value of both companies (Market Capitalization) is about 2.94 billion baht on February 20, before asking the Stock Exchange of Thailand. Temporary ban on the purchase or sale of securities in preparation for the allocation of the new company’s ordinary shares to the existing shareholders of both companies and other actions.
“The vision of the new company under True Corporation Public Company Limited is to aim to be a leader in telecommunication technology that will change the way of life of Thai people and drive business to the forefront of the digital economy. We have moved out of the traditional mindset of doing telecommunication business, unlocking long-term growth, this is leading to a huge shift in Thailand and paving the way for Thailand to be in the best position to benefit. highest in the digital world of Southeast Asia,” said Mr. Manus.
The new company will, together with partners, raise US$200 million (approximately 7.3 billion baht), establish a venture capital (VC) fund, and establish an innovation center supporting digital entrepreneurs to lay the foundation for the future of startups. Thailand at the unicorn level And the new company aims to become a true network leader. which will expand the 5G network to cover 98% of the population in 2026, ready to develop and expand the network nationwide According to a report by GSMA Research, 5G is expected to drive GDP growth in Thailand worth US$10 billion (approximately 370 billion baht) in 2030.
