True Corporation Plc aims to raise 70 billion baht through its initial public offering. The raised amount will be used to retire part of the 100 billion baht debt amount. It also aims to raise 5 billion baht through the sale of non-core businesses. It reported a net loss of 1.1 billion baht during January-March 2013 compared to 456 million baht during the same period of 2012. The company has roped in Credit Suisse and UBS to advise on the listing. True Corporation is the second most indebted telecoms companies in the region with Singapore Telecommunications Limited reporting a net debt of 177 billion baht. True Corporation has operations in mobile, fixed-line phone, broadband Internet and cable television businesses.