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November 28, 1993

UCIP HOPES TO RAISEOVER $120m IN TELECOM SHARE OFFER

By CBR Staff Writer

United Communication Industry Public Co Ltd of Bangkok, Thailand will raise upwards of $120m through an initial public offering of 17m shares, 15% of the total, before listing on the stock exchange of Thailand, the company said in London: some 60% of its shares are held by World Telecom Holding Co Ltd, a 75%-25% joint venture between its founders the Bencharongkul family and Motorola Inc; United makes telecommunications equipment as well as operating services.

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