Advanced Info Service Public Company Limited (SET: ADVANC) has informed the Stock Exchange of Thailand that the company’s Board of Directors’ meeting held on October 20, 2026 has resolved to approve AIS Inter Venture Company Limited (AIV), a subsidiary of the company, to invest in Shenington Investments Pte. Ltd. (SHEN) in the proportion of 49% of the total shares of SHEN, by purchasing such shares from Asia Mobile Holdings Pte. Ltd. (AMH), together with the assignment of rights under the loan agreement between AMH (as lender) and SHEN (as borrower), with a total investment value of $43.35 million, or approximately THB 1,463 million.
SHEN is a juristic person incorporated in Singapore and operates as a holding company, holding 49% of the total shares of Lao Telecommunication Public Company (LTC), a juristic person incorporated in the Lao People’s Democratic Republic (Lao PDR) which operates a telecommunications business and provides internet services in Lao PDR. The company expects that the parties will sign the agreements and complete the share acquisition transaction by December 31, 2026.
ADVANC noted that AMH is a connected person of the company, as the company and AMH have a common indirect major shareholder, namely Temasek Holdings (Private) Limited (Temasek).
Following the share acquisition transaction, Gulf Space Technology Public Company Limited (SET: GST) (formerly known as Thaicom), a connected person of the company which has Gulf Development Public Company Limited (SET: GULF) as a common major shareholder, will continue to hold 51% of the total issued and paid-up shares of SHEN.
The Board of Directors view that the transaction is reasonable and in the best interests of the company and its shareholders as a whole. This is because the transaction has the potential to generate long-term revenue, having regard to the nature of the telecommunications business, which generates continuous service revenue, its potential to generate cash flow from operations in accordance with the business plan, and the forecasts used in the business valuation, taking into account the reasonableness of the key assumptions and the risks that may affect future operations.
