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Singtel increases stake in Thai subsidiary Intouch to 24.99% for $330 mil via IPT

Felicia Tan
Felicia Tan6/16/2022 08:16 AM GMT+08  • 3 min read
Singtel increases stake in Thai subsidiary Intouch to 24.99% for $330 mil via IPT
According to Singtel, the acquisition reinforces the telco's commitment to the Thai market which it has invested in for more than two decades. Photo: Bloomberg
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Singapore Telecommunications (Singtel), via its wholly-owned subsidiary Singtel Global Investment, has acquired some 121.16 million shares in Intouch Holdings for $330 million.

The consideration of the shares represents a 5% discount to the volume weighted average price (VWAP) of each Intouch share on the Stock Exchange of Thailand for the 20 Thai trading days before the acquisition. The consideration will be satisfied in cash.

The shares were acquired from Temasek’s Anderton Investments, bringing Singtel’s total stake in Intouch Holdings to 24.99% from 21.21% previously.

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