Singtel (SGX:Z74) submitted an amendment to the tender offer for the securities of Bangkok-listed Advanced Info Service Public Company (BKK:ADVANC), a filing with the Singapore Exchange said on Monday.
The company, along with concert parties, Gulf Energy Development, Sarath Ratanavadi, Intouch Holdings (INTUCH) and Singtel Strategic Investments (SSI) will conduct the tender offer for 1,078,138,736 shares that represent 36.25% of the total issue and paid up shares of the business.
SSI, INTUCH and GULF will be allotted 148,710.,486 shares each, that represent around 5% of the total issued and paid up share capital of ADVANC.
624,584,045 shares representing around 15% of ADVANC's capital will be issued in equal proportions to GULF, INTUCH and SSI. However, if SSI is allocated the maximum number of shares that it can purchase, both INTUCH and GULF will purchase the remaining shares.
7,423,233 shares that represent around 36% of the issued and paid up capital will be purchased by GULF's major shareholder, Sarath Ratanavadi.
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