Newly Minted Top Thai Mobile Firm Starts Trading After Merger

The new company with 55 million mobile subscribers ended the long reign of Advanced Info Service as the largest telecom company in Thailand. Photo: Bloomberg

(Bloomberg) — Shares of True Corp. Pcl, created through a merger between Thailand’s number two and three mobile phone operators, began trading in Bangkok on Friday, marking the culmination of a consolidation process that drew protests from consumer groups and its main rival.

The shares opened at 8.30 baht (24 U.S. cents) each and was at 8.20 baht by 10:10am in Bangkok. More than 140 million shares changed hands in the first 10 minutes of trading.