Aspen sells Intouch shares
Aspen Holdings, one of major shareholders of Intouch Holdings, has sold an 11.95-per-cent stake in the latter firm to its own major shareholder Anderton Investments, according to an Intouch filing to the Stock Exchange of Thailand Wednesday.
After the share restructuring, Aspen owns 7.55 per cent of Intouch, down from 19.50 per cent earlier, while Anderton now owns 11.95 per cent, up from zero per cent.
Singtel Global Investment owns 21 per cent of Intouch.
Intouch says this change in the shareholding structure will not affect its management structure or business operations.
Intouch is a major shareholder of Thailand’s largest cellular operator in terms of subscription base, Advanced Info Service, and Thailand’s satellite operator Thaicom. The company, formerly known as Shin Corp, was founded by the Shinawatra family.
Aspen, which is associated with Singapore’s state investment arm Temasek Holdings, has gradually sold its shares in Intouch. Last November Aspen sold a 21-per-cent share in Intouch to Singtel’s wholly owned subsidiary Singtel Global Investment, which raised SingTel’s economic exposure to Thailand’s telecommunications market.
After that transaction, Aspen held 19.50 per cent of Intouch, down from 40.50 per cent earlier.
Singtel owns a 23.3-per-cent stake in AIS, while Intouch owns 40.4 per cent.
