New shares priced low at 31 baht

Thai Airways International (THAI) yesterday fixed the price of its new shares at 31 baht, lower than what analysts had expected by as much as three to five baht. The price was in line with the flag carrier’s share price movement on the Stock Exchange of Thailand (SET) and global investors’ feedback from bookbuilding exercises in Thailand, Singapore, Hong Kong, London and New York.

THAI chairman Ampon Kittiampon expressed confidence the price was appropriate and in line with investor demand and the current market environment.

Subscriptions will open today and tomorrow at Bangkok Bank, except micro-branches, and Krung Thai Bank branches.

The shares slid 1.25% on Tuesday to 36.25 baht on speculation that the new shares would be offered at a price below analysts’ initial expectations of 34-36 baht. They closed down 0.7% yesterday at 36 baht, in trade worth 212 million baht.

Read more: hbangkokpost.com, New shares priced low at 31 baht

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