True Corp sells ZAPGROUP stake. UOB target for True Corp stock is THB 16.50

Published on 10/25/2026 at 02:45 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

True Corp sold its ZAPGROUP stake on October 20, 2026 for USD 1. November 3, 2026 results give True Corp stock a second dated marker for the telecom group.

Portfolio discipline and earnings

On October 20, 2026, True Corp sold 70.00 percent of ZAPGROUP.
Second-quarter 2026 revenue reached THB 45.90 billion and net income THB 6.55 billion.
True Corp had a market capitalization of THB 442.3 billion as of October 22, 2026.

True Corp, THB231010000, Illustration mit AI erstellt.

True Corp (THB231010000) sold its 70.00 percent stake in ZAPGROUP on October 20, 2026, a portfolio decision that removes a loss-making overseas subsidiary. MarketScreener reported the disposal. On October 2, 2026, UOB Kay Hian raised its target for True Corp from THB 15.70 to THB 16.50 while retaining its buy rating, according to TradingView.

Exit reduces non-core exposure

True Digital Group, which is wholly owned by the True group, transferred all of its ZAPGROUP common and preferred shares to founder Angelique Auhra Chua Uy. The holding represented 410,081 shares, or 70.00 percent of ZAPGROUP, which operates an online-to-offline customer benefits platform in the Philippines.

The transaction value was USD 1, while a related True subsidiary waived claims totaling PHP 16,335,751. Kaohoon International said the move was intended to reduce exposure to non-core, loss-making overseas businesses and limit future capital commitments.

What does the exit change?

The portfolio action shifts attention back to True's core mobile, broadband and television operations. In the second quarter of 2026, revenue was THB 45.90 billion and net income was THB 6.55 billion, figures reported by Kaohoon International. That earnings base gives the divestment a measurable context: management is reducing a loss-making activity while the main telecom business remains the larger operating story.

Three dated signals for True Corp

On August 4, 2026, True Corp reported second-quarter net income of THB 6.55 billion. On October 2, 2026, UOB Kay Hian lifted its target from THB 15.70 to THB 16.50. On October 20, 2026, True Corp sold its 70.00 percent ZAPGROUP holding, according to Kaohoon International.

Next reporting date

True Corp's next scheduled reporting date is November 3, 2026, listed as the release date for third-quarter 2026 results by MarketScreener.

Market value on October 22

True Corp had a market capitalization of THB 442.3 billion as of October 22, 2026, while its 52-week range was THB 10.20 to THB 15.00. The Stock Exchange of Thailand identifies the company as a telecommunications service provider covering mobile, broadband internet, Wi-Fi, television, content and digital platforms.