Bangkok--Mar 30--Weber Shandwick (Thailand)
CS LOXINFO's Initial Public Offering (IPO) was fully subscribed on the first day of subscription and succeeded in drawing strong investor interest.
Dr. Tachpong Hotrabhavananda, Managing Director of CS LOXINFO Plc., said "The strong support from investors for our IPO shares, offered at 9 baht per share, was very pleasing. Demand for our shares overwhelmingly exceeded the number of shares offered. All shares were sold out on the first day of subscription . The 125 million shares were allocated 65% to brokers/retail investors, institution investors 32% and business partners the remainder."
"This share offering allows us to make the next step in the company's Internet business expansion a reality. The company's executive team is determined to manage CS LOXINFO to the benefit of all shareholders and customers."
"The company wishes to thank all investors who showed interest in CS LOXINFO and made the company's capital-raising effort through the IPO a remarkable success. Also, the company would like to thank all the teams at our financial advisor and underwriters for helping us to achieve this success," he added.
Mr. Surat Taesritrasert, Associate Director DBS Vickers Securities (Thailand) Co. Ltd., financial advisor and lead-underwriter to CS LOXINFO, said "Investors have expressed decisively their interest and confidence in CS LOXINFO by investing in our shares through our 6 underwriters despite the current weak stock market environment. The company's business is strong and has high growth potential. All 125 million shares offered have been sold. We anticipate trading to commence on April 8, 2004, in communication section under the ticker symbol CSL."
Note to editor:
CS LOXINFO PUBLIC COMPANY LIMITED, previously known as CS Communications Company Limited, was established in 1994 as a joint venture between the Communications Authority of Thailand, and Shin Satellite Public Company Limited. It is a provider of satellite communication solutions, including satellite uplink/downlink facilities, and Internet-based services under the name "CS Internet". In March 2003, the Company merged with Loxley Information Service Co., Ltd. (LoxInfo), and changed its name to CS LOXINFO. In early March 2004, CS LOXINFO acquired 63.25% shares of Teleinfo Media Company Limited, producer of Thailand's Yellow Pages.
For more information, please contact
Ms. Tippawan Wortong / Ms. Jensiree Esaparn, Weber Shandwick (Thailand)
Tel: 02 257-0300 ext. 334, 333
E-mail:
[email protected] /
[email protected] End.
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