TAC to delist Singapore shares in 3 years

Total Access Communication, Thailand's second-largest mobile operator, would delist from the Singapore stock exchange within three years.

It said that it gained little from dual listings.

Financial chief Vanna Pornsinsiriruk said the company's board approved a plan to move its shares, listed in Singapore since October 1995, from a primary to a secondary bourse, a first step in the delisting plan.

"Trading volumes of TAC shares in Singapore have dropped sharply to one percent of total shares last year. There is no need for the company to continue listing in Singapore," Vanna said.

TAC, controlled by Norway's Telenor, will conclude a plan to restructure its balance sheet in the first half of 2011 and was considering several options, Vanna said.

Raising its dividend payout is one option and TAC is likely to pay a dividend of at least 70 percent of net profit this year, she added.

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