THAI Clarifies Vaguely over Asset Selling and Capital Raise, Saying Plans Are Underway

Thai Airways International Public Company Limited (THAI) has published a statement to clarify the rumors behind its high surge in share prices that hit the ceiling four days in a row.

 

THAI stated that the rumors can be summarized as follows: 1) The transformation plan is nearing completion. 2) THAI plans to increase its capital by raising capital close to THB 100 billion with loans as well as selling assets to Thai Beverage Public Company Limited, while there are real estate groups pursuing shares in the market. 3) The Ministry of Finance reduced its ownership and acknowledged that it is ready to sell assets because of the inadequate cash on hand due to monthly expenses and a debt of THB 7 billion. THAI asserted that the company had THB 20 billion cash on hand at the end of 2019.

In addition, THAI clarified that at present, the rehabilitation plan is currently underway to present to relevant government agencies, and the company has not yet discussed any specific strategic partners.