SET demands clarification from Thai AirAsia of its share deal with King Power Group

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SET demands clarification from Thai AirAsia of its share deal with King Power Group



BANGKOK: -- The Stock Exchange of Thailand (SET) has ordered Thai AirAsia to clarify within June 16 its share sale deal with King Power International Group and its earlier denials of the deal.

SET said that it had made three enquiries with Thai AirAsia from April 7 to May 9 regarding a report circulating in the stock market about a possible deal in the making between Thai AirAsia and the King Power Group but all the SET had received from Thai AirAsia were straight denials.

On Monday however, the news became official. The Bijleveld family which owns 44.82 percent stake in Thai AirAsia sold 1.89 billion shares or 39 percent of Asia Aviation Plc’s paid up capital to duty-free business tycoon Vichai Srivaddhanaprabha’s King Power Group at 4.20 baht each totaling 7,945 million baht.

After the deal, King Power Group now holds 39.82 percent stake in Thai AirAsia budget carrier with the Bijleveld family holding 5percent.

Top executives of the two companies who include Mr Vichai, his son, Aiyawatt, CEO of King Power, and Thai AirAsia CEO Tassaporn Bijleveld pose for photographs at a news conference held at the King Power headquarters in Bangkok today (Tuesday).

Source: http://englishnews.thaipbs.or.th/167251-2/


-- Thai PBS 2016-06-14

[Jeddah Jo]

Anyone know how come this guy has the Dutch surname of a wealthy patrician family from the Netherlands?

[Wilsonandson]

When The Airline Was Founded it was a joint venture between the owner of AirAsia and the Thai company Shin Corp. Shin Corp was the company formerly owned by former prime minister Thaksin Shinawatra.

Change of guard.

[elgordo38]

Is nobody answerable to the Thai stock exchange? Kind of reminds me of the rest of the country

[KMartinHandyman]

Someone's calculator ran out of zeros or math is not their strong suit.

[Wilsonandson]

After the deal, King Power Group now holds 39.82 percent stake in Thai AirAsia budget carrier with the Bijleveld family holding 5percent.

Top executives of the two companies who include Mr Vichai, his son, Aiyawatt, CEO of King Power, and Thai AirAsia CEO Tassaporn Bijleveld pose for photographs at a news conference held at the King Power headquarters in Bangkok today (Tuesday).

Following in the footsteps of Thaksin Shinawatra. Buy a premier league football club, buy an airline, what's next politics?

Thaksin must have been a role model to the family. I can see it now, talking during breakfast years ago.

"One day Daddy, I want to own a footbal club, I want an airline, like Thaksin."

"Yes son, you can, Thaksin has shown us Thai folk that anything is possible, now pass me the sugar, I need to open up the duty free shop."

[mtls2005]

Would have to see a detailed chart and volume over the last 120 days, but obviously one side would want to keep the news under wraps, while the other would want the news to leak.

Stock is near its 52 week high 6.35 (6.45) and up from its 52 week low 3.90.

Buying at 4.20 was a pretty good deal, not sure how that was accomplished?

I assume this is AAV?

[Bob12345]

Is nobody answerable to the Thai stock exchange? Kind of reminds me of the rest of the country

Seems like an easy case to me assuming the stock exchange has a group of laywers on stand-by exactly for these kind of cases.

Prepare all the paperwork, send it to their office, and within a few weeks we know if what they did is legal or not.

If not, its time to prepare a lawsuit.

But who am I kidding? This is Thailand, 555+