Thai Airways' share offer fully subscribed
Thai Airways stated its share offer has been fully subscribed (Reuters/The Nation, 20-Sep-2010). The carrier was offering 483.9 million new shares at THB31.00 each, to raise USD488 million. The portion of shares for retail investors was twice oversubscribed, while “most” existing shareholders used their rights. A final result of the offering is to be announced on 22-Sep-2010. The new shares are to commence trading on 28-Sep-2010, two days earlier than previously planned.
Thai Airways: “Both existing shareholders and retail investors have expressed strong interest in subscribing to THAI's newly issued shares because of strong investors' confidence in THAI and the company's improved performance over the past year. The success of the PO [public offering] will significantly help THAI in strengthening our financial positioning, supporting fleet expansion and increasing competitive edge. All of these are crucial to making THAI one of the top three Asian airlines and top five in the global arena in the future,” Piyasvasti Amranand, President. Source: The Nation, 20-Sep-2010.