14-Mar-2011 10:47 AM

KTB rejects THAI offer for Nok Air shares

Thailand's Krung Thai Bank recently insisted that it would not sell a 10% stake in Nok Air at the 20% discount offered by Thai Airways (The Nation, 14-Mar-2011). KTB president Apisak Tantivorawong said the share sale is likely to be delayed since KTB and THAI cannot agree on the price. Mr Tantivorawong stated KTB wants to sell the shares at the valuation price of USD1.50, however THAI wants KTB to lower the price by 20%. THAI proposed to buy 5 million shares (10% cent of Nok Air) at USD1 each, for a total of USD5 million, in that event KTB preferred to keep the shares.