Intouch ventures into home shopping business
Play
Intouch Holdings has teamed up with South Korea's Hyundai Home Shopping Network Corp to start a home shopping business in Thailand.
High Shopping will be established as a 51:49 joint venture, with the registered capital of Bt500 million, according to Intouch's filing to the Stock Exchange of Thailand.
The investment is made through its wholly-owned subsidiary, Intouch Media. To finance the investment, Intouch Media will raise its capital by Bt255 million to Bt279 million.
According to the statement, Intouch said that this business would "create a new source of revenue and increase Intouch Group's present and future competitiveness. This will be another stepping stone into the media, e-commerce and e-payment business, which will create synergy in the group and expand the company's investment portfolio".
