Jasmine set to launch infrastructure fund in Dec

JASIF will invest in the ownership of and the rights to benefit from the revenues generated by the core fibre-optic network for broadband Internet from Triple Three Broadband (TTTBB), a subsidiary of Jasmine. The fund worth between Bt55 billion to Bt57.75 billion features 5.5 billion investment units.
The fund will invest in the ownership rights to TTTBB’s 980,000-kilometre fibre-optic network, of which 800,000 core kilometres will be transferred to the JASIF in the first year, 90,000 core kilometres in the second year, and another 90,000 core kilometres in the third year.
TTTBB will also lease this network to provide broadband Internet services nationwide. The fund also welcomes for other operators to lease the network.
JASIF is the second telecom infrastructure fund, following the Bt58-billion True Telecommunications Growth Infrastructure Fund (TRUEGIF), which listed in December last year. JASIF is expected to earn revenue of Bt4.9 billion next year from TTTBB and up to Bt5.6 billion in 2016.
Jasmine will hold 33.33 per cent of the 5.5 billion unit shares in JASIF for three years and will dilute to at least 19 per cent in the fourth to sixth year. Only 5 million households nationwide subscribe to broadband Internet, of which 1.6 million are with TTTBB.
Jasmine chief executive officer Pete Bodharamik said he expected to see the broadband market grow by more than 25 per cent next year in term of subscribers, driven by the entry of newcomer Advanced Info Service.