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Bangkok Airways Pushes Ahead with IPO

Travel News Asia Videos Podcasts Latest Travel News Asia Monday, 22 September 2014
 

Bangkok Airways Public Company Limited has announced that after its filing submission, the Thai Securities and Exchange Commission (SEC) started the day one count on 17 September 2014.

Subscription is expected to open for individual investors around mid-October, while shares are expected to commence trading on the Stock Exchange of Thailand by the end of October 2014.

Mr. Puttipong Prasarttong-Osoth, President of Bangkok Airways, said, “In addition to the airline business, the company also owns and operates three airports in Thailand, namely Samui International Airport, Trat Airport and Sukhothai Airport. Moreover, we also offer additional aviation services to other airlines at Suvarnabhumi International Airport through our subsidiaries Bangkok Air Catering (BAC), which provides meal catering services, Worldwide Flight Services Bangkok Air Ground Handling (BFS), offering ground-handling service, and WFS-PG Cargo (BFS Cargo), providing international cargo service. Lastly, a portion of the company’s revenue also comes from dividends from its 7.83% stake in Bangkok Dusit Medical Services Public Company Limited. Thanks to this unique business structure, the company’s revenue sources are varied and come from not only the aviation industry, but also the tourism industry, in Thailand and the Asian region.”

The IPO will help to strengthen the company’s financial capability and support future growth. The company plans to offer no more than 520 million newly issued ordinary shares, accounting for no more than 24.8% of the total issued and paid-up shares.

“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. 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,” added Mr. Puttipong.

PG, Bangkok Airways, Thailand, Samui

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