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Bangkok Airways planning to launch IPO in 1Q2013

15-Jun-2012 10:03 AM

Bangkok Airways plans to launch an IPO in 2013 in which it may sell up to 40% of its stock, according to a 14-Jun-2012 report in the Bangkok Post. The airline commissioned Bualuang Securities to plan the IPO which is to be held during 1Q2013. Bangkok Airways president Puttipong Prasarttong-Osoth said funds raised via the IPO would be used to finance growth plans, including fleet expansion and construction of new hangars at Bangkok Suvarnabhumi Airport. Mr Puttipong said the listing of the company on the Stock Exchange of Thailand (SET) is a key component of its strategy to consolidate its network in Southeast Asia, including resumption of flights to Vietnam, adding Mandalay as a second destination in Myanmar, launching a new route to the Lao capital of Vientiane. The carrier also wished to expand to new markets such as Indonesia and the Philippines.