ASEAN KEY DESTINATIONS
Thai Airways share sale outstrips supply
Most existing shareholders subscribed to their entitlements and beyond, while subscriptions from retail investors were more than twice the amount offered.
THAI president Piyasvasti Amranand said the strong interest reflected investors' confidence in THAI and its improved performance over the past year.
The flag carrier offered 221.83 million shares to existing shareholders, excluding the Finance Ministry, whose names appeared on the share register book on Aug 30 at the entitlement ratio of one old share to 0.2667 new shares.
An additional 15.11 million shares were offered to retail investors who are Thai citizens with residences in Thailand or juristic persons registered in Thailand.
THAI offered 246.93 million shares to the ministry so that it could maintain its 51.3 percent holding in the airline.
The carrier is issuing 483.87 million total new shares at 31 baht apiece in order to raise 15 billion baht to strengthen its finances and cover its fleet expansion.
THAI shares closed yesterday on the SET at 41 baht, up two baht, in trade worth 372.28 million baht.
The company will announce the results of the share allocation by noon tomorrow, with the new shares to begin trading on the Stock Exchange of Thailand next Tuesday.
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