Thai AirAsia goes public
Asia Aviation PCL, the holding firm of discount carrier Thai AirAsia which owns a 51 per cent share in the airline, will start trading its shares at the Stock Exchange of Thailand from May 31, 2012.
The company has priced its shares at 3.70 baht each. A total of 1,212,500,000 shares will be offered to investors. The offering therefore is expected to raise up to 4.48 billion baht, or $143 million. Of the IPO shares, 750 million are new shares, with the rest being existing shares. 800 million shares have already been allotted to institutional investors during the book-building phase from May 23 to 25.
The company said that it experienced a positive feedback during roadshows. The shares were 11 times oversubscribed following the book-building among institutional investors .
Thailand-based Thanachart Securities is Asia Aviation’s financial advisor and co-lead underwriter for the domestic market. CIMB Securities (Thailand) acts as co-lead underwriter.
Asia Aviation will use the funds raised to subscribe to new shares in Thai AirAsia, increasing its stake to 55 per cent. Thai AirAsia will use proceeds to double its Airbus A320 fleet size to 48 aircraft in the next five years and boost working capital.
Thai AirAsia posted 4.8 billion baht of revenue and 621 million baht of net profit in the first quarter of 2012. The carrier aims to attract eight million passengers this year from 7.2 million in 2011. The airline operates on 28 routes and will increase that number to 32 routes by the end of 2012 and increase flight frequencies, said Tassapon Bijleveld, chief executive of Asia Aviation.
[caption id="attachment_3195" align="alignleft" width="300" caption="Thai AirAsia will use funds raised from the IPO to buy new aircraft and expand routes"][/caption] Asia Aviation PCL, the holding firm of discount carrier Thai AirAsia which owns a 51 per cent share in the airline, will start trading its shares at the Stock Exchange of Thailand from May 31, 2012. The company has priced its shares at 3.70 baht each. A total of 1,212,500,000 shares will be offered to investors. The offering therefore is expected to raise up to 4.48 billion baht, or $143 million. Of the IPO shares, 750 million are new shares,...
Asia Aviation PCL, the holding firm of discount carrier Thai AirAsia which owns a 51 per cent share in the airline, will start trading its shares at the Stock Exchange of Thailand from May 31, 2012.
The company has priced its shares at 3.70 baht each. A total of 1,212,500,000 shares will be offered to investors. The offering therefore is expected to raise up to 4.48 billion baht, or $143 million. Of the IPO shares, 750 million are new shares, with the rest being existing shares. 800 million shares have already been allotted to institutional investors during the book-building phase from May 23 to 25.
The company said that it experienced a positive feedback during roadshows. The shares were 11 times oversubscribed following the book-building among institutional investors .
Thailand-based Thanachart Securities is Asia Aviation’s financial advisor and co-lead underwriter for the domestic market. CIMB Securities (Thailand) acts as co-lead underwriter.
Asia Aviation will use the funds raised to subscribe to new shares in Thai AirAsia, increasing its stake to 55 per cent. Thai AirAsia will use proceeds to double its Airbus A320 fleet size to 48 aircraft in the next five years and boost working capital.
Thai AirAsia posted 4.8 billion baht of revenue and 621 million baht of net profit in the first quarter of 2012. The carrier aims to attract eight million passengers this year from 7.2 million in 2011. The airline operates on 28 routes and will increase that number to 32 routes by the end of 2012 and increase flight frequencies, said Tassapon Bijleveld, chief executive of Asia Aviation.
