The share price of Jasmine Broadband Internet Infrastructure Fund (SET: JASIF) briefly rose by more than 5% at the opening session on Wednesday after Advanced Info Service Public Company Limited (SET: ADVANC) announced yesterday that it would move forward with the acquisition of Triple T Broadband Public Company Limited (TTTBB) and the fund, despite disapproval from shareholders of the latter on the condition precedents to terminate the Rental Assurance Agreement and the amendment of the Main Lease Agreement.
JASIF gained THB0.45 or 5.39% to THB8.80 per share in just minutes after the opening, but slowed down its gain as the session progressed. The share price showed a gain of 2.99%, after nearly an hour from the market opening.
The Board of Directors of ADVANC noted that they still see potential in both acquisitions, and the company shall attain transaction approval from the National Broadcasting and Telecommunications Commission (NBTC) before signing the share purchase agreement and executing the transaction. ADVANC noted that it expected the share purchase and acquisition of investment units to be completed within the 1st quarter of 2023.