BANGKOK, Jan 18 — Asia Aviation Plc (AAV), the major shareholder of Thai AirAsia Co Ltd (TAA), announced it has successfully raised 14 billion baht (RM1.7 billion) in capital, involving the issuance of convertible bonds and new ordinary shares to increase working capital and enhance liquidity for the airline.
In a statement, the company announced that it has successfully restructured its shareholding through a recent rights offering to its existing shareholders of 1.7 billion ordinary shares worth 3 billion baht, which was fully subscribed within five days since it was made available to shareholders from Jan 10.
Besides that, the company also increased its registered capital by offering 8.8 billion baht worth of private placements and the issuance of 2.2 billion baht worth of convertible bonds.
Executive chairman of Asia Aviation Plc and Thai AirAsia Co Ltd Tassapon Bijleveld said that the overwhelming response to the latest rights offering of 1.7 billion ordinary shares worth 3 billion baht signalled strong support and confidence from shareholders despite the current economic doldrums and the Covid-19 situation.
He said the issue was fully subscribed at the ratio of 5.7625 existing ordinary shares to one ordinary share at an offer price of 1.75 baht per share.
“The better-than-expected response from the shareholders and investors reflects their full confidence in the company and its long-term growth potential.
“We would like to express our gratitude towards the shareholders and investors for their support and trust towards the board of directors and executive committee of AAV and Thai AirAsia.
“With our commitment that as soon as the situation is eased, we will continue to strive and lead the company to grow forward sustainably,” he said in a statement here today. — Bernama
