Thai Airways to issue one billion new shares to raise US$484 million

The public offering is to be made on Sept. 16 and 17 at Bangkok Bank and Krung Thai Bank branches nationwide.

“I expect we will raise about 15 billion baht (US$484 million),” company President Piyasvasti Amranand said.

Thai Airways was to remain a majority state-owned company with the Finance Ministry holding 51.03-percent equity in the national airline.

The extra capital would “increase financial strength and flexibility, improve competitiveness of our fleet by executing comprehensive re-fleeting and aircraft retrofit program,” Piyasvasti said.

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