<article>The Board of Directors of <a style="color: #000080;" href="http://www.i-mobilephone.com/">Samart I-Mobile PCL (SIM)</a>, Thailand’s listed mobile phone retailer and wholesaler, has today approved the plan to list its subsidiary<a style="color: #000080;" href="http://wap.isport.co.th/"> I-Sport Co Ltd </a>on the Market for Alternative Investment (MAI).</article>

The Board of Directors of <a style="color: #000080;" href="http://www.i-mobilephone.com/">Samart I-Mobile PCL (SIM)</a>, Thailand’s listed mobile phone retailer and wholesaler, has today approved the plan to list its subsidiary<a style="color: #000080;" href="http://wap.isport.co.th/"> I-Sport Co Ltd </a>on the Market for Alternative Investment (MAI).
Currently, SIM holds 50 per cent of total registered capital of I-Sport through <a style="color: #000080;" href="http://www.samartmultimedia.com/">Samart Multimedia Co Ltd</a>.
According to the company’s statement, I-SPORT will increase its registered capital from 120 million baht to 160 million baht by issuing 4 million newly-issued ordinary shares, equivalent to 25 per cent of total registered capital, with a par value of 10 baht per share.
Of that, 3 million shares will be offered through initial public offering (IPO) and the remaining 1 million shares to the existing shareholders of SIM and <a style="color: #000080;" href="http://www.siamsport.co.th/">Siam Sport Syndicate PCL (SPORT) </a>pro rata basis to their pre-emptive rights. The other 1 million shares that will be offered in IPO will come from SPORT, which is another shareholder of I-SPORT.
Once the IPO is completed, SIM’s shareholding proportion in I-SPORT will reduce from 50 per cent to 37.5 per cent.
Earlier, SIM’s chief executive officer Watchai Vilailuck said that the sluggish local economy had slowed down the handset market this year, so it has shifted to focus more on international markets including the Middle East, Africa and the ASEAN.
Around 20 per cent of total sales is expected to come from overseas, up from 15 per cent in 2014. The company has revised its sales target this year from 4 million i-Mobile handsets to 3-3.5 million sets after its sales dropped to 1.5 million units in the first six months.
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Samart I-Mobile PCL (SIM), Thailand’s listed mobile phone retailer and wholesaler, has today approved the plan to list I-Sport Co Ltd on MAI.

Thailand's Samart i-Mobile to spin off subsidiary, list on MAI

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