Thailand’s Gulf Energy Development will commence the voluntary tender offer of shares in Singapore Telecommunications’ (Singtel) Thai Associate, Advanced Info Service Public Company (AIS) on June 29.
Gulf has, on June 28, already submitted the tender offer document to Thailand’s Office of the Securities and Exchange Commission.
The news comes after Gulf Energy announced its intention to execute a conditional voluntary offer of all shares in AIS on May 28, following the acquisition of Intouch Holdings.
Shares in Singtel closed 1 cent higher or 0.4% up at $2.31 on June 28.
Photo: Bloomberg
