Bangkok Airways set for USD500 million IPO

Thursday, 24 Sep, 2014 0

Thai carrier Bangkok Airways will sell a quarter of its business in an initial public offering (IPO) next month, hoping to raise around $500 million.

It said in a statement it plans to offer for sale 520 million new shares for 24.8% of the business in a sale in mid-October.

It hopes to use the proceeds to fund further expansion with a fleet expansion and maintenance upgrades, according to Bangkok Airways president Puttipong Prasarttong-Osoth.

"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 added.

The IPO subscription window will be October 16-20 and the airline’s shares will then begin trading on the Thai Stock Exchange from October 27, according to a Reuters report.

Bangkok Airways which describes itself as a boutique airline serves over 20 cities in Thailand and will become the fourth airline to list on the Thai Stock Exchange.

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