True corp brings first accelerated placement from Thailand

Investors take on 15 day settlement risk to buy telecom operator''s share placement.

Merrill Lynch completed the first accelerated block trade out of Thailand after Wednesday's close December 1, raising Bt2.7 billion $70 million for True Corp, formerly known as TelecomAsia. The 398 million new share deal was marketed at Bt6.3 to Bt6.8 and priced at Bt6.8, which represents a 7.5% discount to the stock's close of Bt7.35.

The transaction faced a number of challenges, but managed to attract demand of $275 million, with participation by 54...

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