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THAI loses state enterprise status

THAI loses state enterprise status
Thai Loses State Enterprise Status

BANGKOK(NNT)-Thai Airways International (THAI) has lost its state enterprise status after the Vayupak Fund bought a 3.17 percent stake in the airline from the Finance Ministry, at a cost of 278 million baht. THAI is expected to notify the Stock Exchange of Thailand (SET) on May 24.

The Ministry of Finance sold 69 million shares of THAI to the Vayupak Fund at a price of 4.03 baht per share, worth approximately 278 million baht or equivalent to 3.17 percent. The trade was undertaken off market.

The Finance Ministry held 51.03 percent of the shares in THAI. Selling 3.17 percent of the ministry’s shares has reduced its stake in the airline to 47.86 percent. As a result, THAI immediately lost its state enterprise status.
The Ministry of Finance has already informed THAI, the Ministry of Transport and the Office of the Securities and Exchange Commission of the sale of the shares. THAI has to notify the SET and the Office of the Securities and Exchange Commission regarding the trading of the said shares so that it can be announced publicly on Monday, May 25.

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