Singtel Strategic Investments backs ADVANC tender offer with NewCo

The tender offer will cover the remaining 1.08 billion shares of ADVANC.

Singtel Strategic Investments (SSI) intends to participate in the conditional voluntary tender offer for all remaining securities of Advanced Info Service (ADVANC) alongside Gulf Energy Development (GULF), Intouch Holdings (INTUCH), and GULF’s major shareholder, Sarath Ratanavadi.

The tender offer will cover the remaining 1.08 billion shares of ADVANC, representing 36.25% of the company’s total shares with voting rights.

On 3 October 2024, GULF and INTUCH approved a merger to form NewCo, effectively ceasing their status as separate juristic persons as part of a restructuring effort.

NewCo will assume all assets, liabilities, rights, obligations, and responsibilities of GULF and INTUCH by operation of law. This includes INTUCH’s 1.2 billion shares in ADVANC, which account for 40.44% of the total issued and paid-up shares of the company.

In addition, NewCo will be required to conduct a mandatory tender offer for all ADVANC securities, as its shareholding in the company will surpass the mandatory tender offer threshold.

Follow the link for more news on

Singtel

mergers and acquisitions

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia