Bangkok Airways pushes ahead with IPO
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Bangkok Airways has confirmed plans to hold an initial public offering (IPO) next month.
The company will list its shares on the Stock Exchange of Thailand following the IPO in mid-October, which will see Bangkok Airways offer a maximum of 520 million ordinary shares, or 24.8% of the company. The guide share price or expected proceedings from the IPO were not revealed.
“The IPO will give the general public a unique opportunity to be a part of the company’s growth and the rise of the aviation industry as a whole,” said Puttipong Prasarttong-Osoth, president of Bangkok Airways.
“The proceeds raised will be invested in the expansion of our fleet of aircraft including improving and/or replacing some of our existing aircraft, purchasing engines, spare parts and necessary equipment for our new fleet on par with aviation industry standards.
“In addition, part of the money raised from the IPO will be used for the renovation of our aircraft hangar at Suvarnabhumi International Airport and the renovation of Samui International Airport,” Puttipong added.
Following the IPO, Bangkok Airways is expected to commence trading on the Stock Exchange of Thailand by the end of October 2014.
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