NOK Hits the Floor after Filing for Bankruptcy and Seeking Rehabilitation Plans

The share price of Nok Airlines Public Company Limited (NOK) hit the floor after the announcement of lodging an application for the company to undergo rehabilitation to the Central Bankruptcy Court on July 30, 2020.

NOK plunged ฿0.12/share or 14.29% to ฿0.72/share with a trading value of 1.6 million baht.

 

Mr. Wutthiphum Jurangkul, Chief Executive Officer of NOK, stated that the coronavirus outbreak and the lockdown, caused the company to be unable to do business. Currently, the company has total liabilities of 26 billion baht, compared to its total asset value of 23 billion baht.

The Central Bankruptcy Court has issued an order to accept the rehabilitation petition of the company for consideration. In this connection, the Central Bankruptcy Court has set the date for the hearing on the rehabilitation petition of the company on October 27, 2020.