The Digital Telecommunications Infrastructure Fund (DIF) will offer up to 3,831 million new investment units to raise funds for additional assets in response to growing demand for Internet and broadband.
DIF expects estimated distribution per unit (DPU) to increase from July 1 this year through June 2019 by at least Bt1.04 per unit, compared with Bt0.98 per unit in January-December 2017.
The preliminary offering price is Bt13.60-Bt13.90 per unit and existing holders can subscribe for more during business hours from May 2-8.
The subscription period for the general public will be May 2-11, said Smith Banomyong, chief executive of SCB Asset Management Co Ltd, which manages DIF.
Smith said DIF – Thailand’s first and largest digital telecommunications infrastructure fund – would invest in additional assets with total value not exceeding Bt55.236 billion by offering up to 3,831 million new units.
The total value of investment units issued and offered for sale would not exceed Bt53.236 billion and borrowing up to Bt2 billion from financial institutions had been approved in accordance with resolutions set out at a DIF unitholders meeting last November.
The investments are designed to enhance Thailand’s competitiveness and meet demand for smartphone, Internet and broadband use, which is expanding with the change to the 4G LTE system, Smith said.
It will also help Thailand become a more advanced digital society in response to the government’s “Thailand 4.0” policy, he said.