Thai Airways Announces B42bn Share Sale to End Debt Restructuring
Thai Airways International Plc plans to issue new shares worth at least forty two billion baht to creditors and other investors by December. This is aimed at exiting its court-monitored debt restructuring and resuming trading on the Stock Exchange of Thailand. The share issuance includes six point eight one billion shares in a debt-to-equity swap and an additional nine point eight two billion shares to existing shareholders and others.
Thai Airways International Plc plans to issue new shares worth at least 42 billion baht to creditors and other investors by December, aiming to exit its court-monitored debt restructuring and resume trading on the Stock Exchange of Thailand (SET).
The carrier will offer 6.81 billion new shares to creditors in a debt-to-equity swap, each priced at 2.5452 baht, and an additional 9.82 billion shares to existing shareholders, employees, and other investors.
The airline has reserved 14.9 billion shares specifically for its main creditors, including the Ministry of Finance.
Thai Airways expects to complete the share sales by December 31, 2024, and aims to emerge from its debt-restructuring plan in 2025.
The carrier will offer 6.81 billion new shares to creditors in a debt-to-equity swap, each priced at 2.5452 baht, and an additional 9.82 billion shares to existing shareholders, employees, and other investors.
The airline has reserved 14.9 billion shares specifically for its main creditors, including the Ministry of Finance.
Thai Airways expects to complete the share sales by December 31, 2024, and aims to emerge from its debt-restructuring plan in 2025.
