Listing badly
Article Abstract:
The privatization of Thai Airways International Ltd is being mismanaged. Figures for the initial public offering of 100 million shares at Baht 60 have been driven to Baht 80 largely due to a bloc's control of stocks precisely to raise the prices. Analysts believe problems are stemming from the military's involvement, but that economic policymakers and securities traders are equally to blame for negligence to control the fiasco. Even worse is the airline's financial performance for the first half of 1992, which was way below forecasts.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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Dirt on the runway
Article Abstract:
Thai Airways International Ltd's initial public offering has been marred by reports of grey-market pricing. Out of the 100 million shares involved, around 15 million were offered to foreign investors. Despite being overvalued at Baht 60 each, acquiring Thai shares made good investment sense. However, individuals claiming to represent the airlines' chairman, Kaset Rojananin, were reported to have sold foreign brokers up to six million shares at Baht 71 to Baht 78 each.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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Turbulent take-off
Article Abstract:
Poor employee morale and outside interference in the management of Thai Airways International Ltd is severely affecting investor confidence in the airline. Thai will offer 100 million shares to the public on Mar 16-27, 1992 but foreign investors are wary of the airline's long-term development plans and earning capacity. Similarly, the planned issuance of another 200 million shares in 1993 to 1994 is expected to dilute the airline's share-price performance.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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