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Bangkok Airways prepares for October flotation

Bangkok Airways prepares for October flotation

Bangkok Airways has announced plans for an initial public offering on the Stock Exchange of Thailand.

Following the filing of submission papers with the he Thai Securities & Exchange Commission, the subscription is expected to open for individual investors around mid-October, while the shares are expected to commence trading in the Stock Exchange of Thailand by the end of October.

The company is confident of its growth potential and believes future business expansion will put it in a prime position to capitalise on the growth of the aviation and travel industry in Thailand and the region.

Bangkok Airways president Puttipong Prasarttong-Osoth said: “For the past 46 years, Bangkok Airways has grown consistently thanks to our unique business structure that covers the integrated aviation business.

“From a small airline, Bangkok Airways has grown into a globally recognised boutique airline.”

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.

It also offers additional aviation services to other airlines at Suvarnabhumi International Airport through it subsidiaries Bangkok Air Catering, which provides meal catering services.

A portion of the company’s revenue also comes from dividends from its 7.83 per cent stake in Bangkok Dusit Medical Services Public Company.

Bangkok Airways hopes offering will help to strengthen its financial capability and support future growth.

“We plan to offer no more than 520 million newly issued ordinary shares, accounting for no more than 24.8 percent of the total issued and paid-up shares,” said Prasarttong-Osoth.

“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.”