THAI to offer shares at 4.48 baht in debt-to-equity conversion

Thai Airways International Public Co Ltd (THAI) announced on Wednesday that the ordinary shares issued as part of its business rehabilitation plan will be offered at 4.48 baht per share to existing shareholders, employers and limited liability persons.

The subscription period will run from December 6 to 12, following the effective filing date.

The airline has successfully completed its debt-to-equity conversion process, with creditors showing strong interest in converting their debts to additional capital. The company will now proceed with the offering of 9.8225 billion new shares to eligible shareholders.
 

Piyasawat Amranand, chair of the Business Rehabilitation Plan Executive Committee, said he was grateful to all stakeholders for their support during the airline’s recovery process. He also highlighted the company’s organisational restructuring, cost management strategies and fleet adjustments to enhance profitability and future growth.

Key Points:
Share Price: 4.48 baht per share
Subscription Period: December 6-12, 2024
Debt-to-Equity Conversion: Completed with strong creditor interest
Positive Financial Outlook: The company expects positive equity by the end of the year, paving the way for the cancellation of the business rehabilitation plan.
IPO Plans: Thai Airways aims to return to be listed in the Stock Exchange of Thailand by the second quarter of next year.

Strong Operational Performance

Thai Airways reported robust financial performance in the first nine months of this year, with a 14.7% increase in passenger numbers and a 19.2% increase in passenger production volume. While the airline’s operating profits declined slightly due to increased infrastructure costs and higher fees, the company remains optimistic about its long-term growth prospects.

Eligible existing shareholders can check their rights through the company’s official notification or website. Subscriptions can be made via designated underwriters and securities dealers.

Thai Airways, Thailand’s largest full-service carrier, operates a fleet of 77 aircraft to 62 destinations worldwide. As a founding member of the Star Alliance, the airline offers extensive global connectivity and premium services to its customers.