Thai Airways International Public Company Limited (SET: THAI) has disclosed to the Stock Exchange of Thailand its plan to offer newly issued shares to existing shareholders, expecting to raise 44,005 million baht (approx. $1.27 billion).
Under the rehabilitation process, the Thai flagship airline will offer 9,822,473,626 shares to existing shareholders at a ratio of 1 existing ordinary share to 4.5 newly issued shares at the price of 4.48 baht per share.
Earlier this month, the company had completed the conversion of debt-to-equity with creditors, which converted 53 billion baht of debt into shares.
The subscription period for the rights offering is December 6-12, 2024 with Kiatnakin Phatra Securities Company Limited as its underwriter and Krungthai Bank Public Company Limited as its selling agent.
Thai Airways expects to emerge from the rehabilitation plan and resume trading in the Stock Exchange of Thailand within the second quarter of 2025. The company also plans to offer a dividend payment to its shareholders at the amount not less than 25% of its net profit.
