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FUND RAISING

THAI share subscription slated for Sept 16-17

By The Nation

Thai Airways International will set the public offering price on September 15 as well as the ratio of upto 1 billion shares to be attributed to each investor group.

Subscription is scheduled for September 16-17 at Bangkok Bank and Krung Thai Bank branches.

The offering proceeds will strengthen the company's financial status and support its business expansion projects, as well as products and service improvement that will elevate THAI to consistently rank among top three airlines in Asia and top five in the world, said President Piyasvasti Amranand.

"The capital raised from this public offering will increase THAI's financial strength and flexibility, improve competitiveness of our fleet by executing comprehensive re-fleeting and aircraft retrofit programs. Our aim is to achieve the highest service quality for customers, and to become more competitive through effective business model, operational efficiency and financial strength. We aspire to be one of the top three airlines in Asia and top five in the world."

The existing shareholders excluding the Finance Ministry which owns 51.03 per cent in THAI can subscribe more than their entitlement ratio. In case that there are excessive shares after existing shareholders make subscription according to their respective entitlement, the Company will allocate the remaining shares to shareholders who wish to subscribe more than their respective entitlement. For retail investors, if subscription demand is higher than the offered shares, the company will engage SETTRADE.COM to perform random selection process to ensure maximum transparency.

"We are confident that this public offering will prove successful, with anticipated positive response from both existing shareholders in Thailand and overseas as well as the general public," said Piyasvasti.

-- The Nation 2010-09-03