Thai Airways International Public Company Limited (SET: THAI) is poised to submit a filing with the Securities and Exchange Commission (SEC) by the year’s end, affirming its intention to restart stock trading by the second quarter of 2025.
According to THAI’s Financial Director, the company is in the process of submitting the necessary documentation to regulators in order to resume stock trading. This effort is accompanied by a 25 billion baht capital raise and a debt to equity conversion.
The capital raise is slated to take place between November and December of 2024, with offerings to existing shareholders. Any remaining newly issued shares will be made available for subscription to the public, Employee Stock Option Program (ESOP), and Private Placement if not fully taken up.
In addition, the national carrier of Thailand is anticipating the acquisition of nine additional aircraft from Airbus this year, bringing its fleet total to 79 by the end of the year, up from 70 aircraft in the previous year. This move aligns with Prime Minister Srettha Thavisin’s call for fleet expansion to bolster the recovering tourism sector in the aftermath of the Covid-19 pandemic.
Dr. Piyasvasti Amranand, Chairman of the Rehabilitation Plan Administrator overseeing Thai Airways, previously noted that if all procedures proceed as planned, THAI could relist on the stock market in the second quarter of 2025.
