BANGKOK, 6 October 2014 Bangkok Airways PLC has planned to sell a 24.8 percent stake in an initial public offering (IPO).
Mr. Puttipong Prasarttong-Osoth, the president of Bangkok Airways Public Company Limited stated that Thailand’s IPO market had gone through a lull since last year, due to political turmoil within the country. The situation in Thailand is currently on a recovering process. The country’s stability has revived its economy, brought back tourists and investor’s confidence as well as boosted local equity market.
Thai full-service carrier Bangkok Airways PLC is going to sell 24.8 percent stake in an initial public offering (IPO) . The airline is aimed at raising approximately 11,960 to 14,040 million baht, which will be the largest listing in Stock Exchange of Thailand in 2014.
The proceed will be spent on expanding its fleet, buying engines and spare parts and renovating aircraft hangers at Suvarnabhumi and Samui international airports as a preparation to service tourists during high season and ASEAN integration in 2015.
So far, Bangkok Airways has increased flights and routes to provide enough service for tourists, and has escalated the quality of services.
The subscription period for retail investors has been scheduled during October 14-17, at price range of 23-27 baht per share.
