Bangkok--18 Aug--Thai Airways
Today (August 17, 2010), Thai Airways International Public Company Limited (“THAI” or “The Company”) has submitted the registration statement and draft prospectus for the public offering of its newly issued shares with the Securities and Exchange Commission (SEC).
Mr. Piyasvasti Amranand, President of Thai Airways International Public Company Limited, said: “Today, the Company submitted its public filing with the SEC to issue and offer up to one billion new common shares to investors. This offering is deemed a Public Offering, not a Rights Issue. The offering price will be based on the share price of THAI which currently trades on the Stock Exchange of Thailand (SET). Final offering price will be determined by bookbuilding method.”
The offering is expected to be made to the following groups of investors:
(1) The Ministry of Finance (MOF) currently holds approximately 51.03% of THAI’s total issued shares. The company will offer and allot the newly issued shares so that MOF maintains its 51.03% stake in the Company after this offering;
(2) Existing shareholders of the Company (excluding the MOF), whose names appear in the share registrar book as of August 30, 2010 . The last day that investors can purchase THAI shares on the SET and be entitled to subscribe for the portion is August 24, 2010. Subscription price for existing shareholders will be the same price as that of the MOF’s.
The Company shall announce the entitlement ratio to existing shareholders (excluding the MOF) on the same date as announcement of the final offering price. Existing shareholders (excluding the MOF) can subscribe more than their respective entitlements;
(3) Retail investors who are Thai individuals residing in Thailand or juristic persons registered in Thailand and are not institutional investors. Retail investors also subscribe at the same price as the MOF and existing shareholders.
The Company shall announce further details of the offering, including expected pricing date, number of shares to be offered to each group of investors, as well as date and places investors can make subscription.