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Byline: Cholada Ingsrisawang
Nov. 7--Internet Thailand expects its shares to begin trading within seven days after completing its spectacularly successful initial public offering.
According to Settrade.com, 30 million shares available online were nearly 33.3 times oversubscribed. Underwriters reported that another 80 million shares offered through local brokers were also quickly oversubscribed.
Formal subscription for the share offering will end today. The IPO, priced at 3.50 baht per share, also includes 17.5 million shares offered to company executives and employees.
Inet, one of the country's largest Internet service providers, will list on the Stock Exchange of Thailand with 250 common shares having a par value of one baht each.
Trin Tantetthi, Inet's president and chief executive, said the company had originally planned to begin share trade on the SET on Nov 19, but was co-ordinating with market regulators to accelerate the process.
He said Inet was likely to set a record in being the fastest traded stock following its IPO. The record is held by Ratchaburi Electricity, which saw trading begin only 12 days after its IPO was completed.