Although further details regarding which banks will be mandated to arrange the transaction and when any issue is likely to take place have not been decided, the board of directors notified the Stock Exchange of Thailand that it had received shareholder approval for the deal to take place.
Proceeds from the issue will be used to fund an expansion of the company’s network, which the company recently estimated will cost around Bt12 billion for the next year. AIS, which holds a license to operate Thailand’s mobile phone system until 2010, now has to determine whether the amount of debt it seeks to raise will come through single or multiple issues and whether it will be denominated in local or foreign currency.
