Friday, July 6, 2012

2013 IPO planned by Bangkok Airways

Bangkok Airways (PG) is planning to list on the Stock Exchange of Thailand in early 2013, to enable it to acquire aircraft and build a new hangar at Suvarnabhumi, president Puttipong Prasarttong-Osoth stated. He gave few details but acknowledged the Initial Public Offering (IPO) will likely to be within the next 12 months. “We plan for early next year, 2013,” he said.

The size of the listing is also likely to be limited as Thai law prohibits foreigners from owning more than half of a Thai airline.

“(We will) probably put 40%-45% in the market,” Prasarttong-Osoth said.

The privately owned carrier will most likely be listing as an airline only. It owns and operates three airports—Koh Samui, Sukhothai and Trat—which are not likely to be part of the flotation. “I think it will be the airline,” Prasarttong-Osoth said.

The family-owned and run carrier has been limited in its ability to grow its equity base. It believes a successful float will allow it to raise more funds for future expansion, he added.

(Michael Mackey - ATWOnline News)