Media
Media
Thai Airways International’s offer of new shares, targeted to raise US$487 million in fresh funds, has been priced at 31 baht ($1.01) each, cheaper than what the market expectedm, reported Dow Jones Newswires.
The offer price is at a discount to the closing price of the company's shares on Tuesday at 36.25 baht.
The national carrier will offer 483.89 million shares, of which 246.93 million will be offered to the Ministry of Finance, 221.83 million to other existing shareholders and 15.11 million to retail investors.
The Finance Ministry has said it plans to inject around $243.23 million to maintain its 51 percent stake in the national carrier.
"We are confident that all the new shares will be fully subscribed," Thai Airways chairman Ampon Kittiampon said.
He said the successful recapitalisation will bring down Thai Airways' debt to equity ratio to 1.71 times from 2.17 times at the end of June.
(Source:www.cargonewsasia.com)
qq.com