Bangkok Airways set for USD500 million IPO
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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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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