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Thai Telephone Agency Believes Its Share Price Can Top State Oil Company's.
Byline: Kanchana Pleumjit
Nov. 6--The Telephone Organisation of Thailand is restructuring to emphasise five high-potential business areas, with a view to improving its share value ahead of a planned public offering in the second quarter of next year.
TOT executives say that if the restructuring succeeds, the state telephone agency should be able to command a share price exceeding the 31-35 baht level set for the public offering this month of PTT Plc, the state oil company.
Under its original business plan, the TOT was to add 450,000 fixed-line numbers next year. The revised plan calls for one million new lines, which would show investors its potential to increase revenues, said a TOT executive who asked not to be named.
The five business areas being given priority are fixed line communication, wireless, Internet protocol, circuit rentals and leased lines, and international connections.
TOT president Sutham Malila would not say precisely what share price the agency hoped to achieve, as more advice was needed from its consultants. However, he admitted that the TOT wanted to top the PTT price.
He confirmed the plan to add one million lines, saying that the more network capacity the TOT had, the more revenue it could generate.
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