MCOT Public Company Limited
(, )) is a Thai media conglomerate
. Its origins date back to the creation in 1955 of Thailand's first television
broadcaster, The Thai Television Company Limited. In 1977, this company was reconstituted as a state enterprise
, the Mass Communications Organization of Thailand. In August 2004, the Thai government corporatized
the Mass Communications Organization of Thailand and renamed it MCOT Pcl. The company was partially privatized
in an initial public offering
later that same year, with the Thai Ministry of Finance retaining a 77 percent stake.
Headquartered in Bangkok
, MCOT operates a television station, Modernine TV (formerly Channel 9),MCOT Sattlelite TV (MCOT TV - ASEAN TV), and a nationwide network of 62 radio stations. The company also owns TV Channel 3, but contracts the management of that station out to a private operator, BEC World
. In addition, MCOT operates the Thai News Agency
) wire service
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Initial Public Offering
The Ministry of Finance diluted its 100% ownership of MCOT to 75% in a 2004 IPO. The IPO was designed to allocate as much stock as possible to retail investors, and in accordance with Thai law, foreign investors could not hold more than 15% of the offering. Investors subscribing to less than 100,000 Baht
of shares were given first priority, and shares were sold via commercial banks rather than investment banks or brokers.The Nation, , 13 Sep......