Thai Airways deal might face a lack of interest
Article Abstract:
Analysts are skeptical of the Thai government's planned sale of 23% of its shares in Thai Airways International, asserting that investors may find share prices too high. The Thai government, which owns 93% of the airline, plans to sell its stock at about $1.45 to $1.69 per share. Skeptics believe that investors may be turned off by the high operating costs of the airline and its heavy US dollar debts. However, firms including British Airways, Quantas Airlines, and Singapore Airlines have expressed interest in investing according to Thai Airways representatives.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Thai Airways deal might face a lack of interest
Article Abstract:
Thai Airways International's plan to sell stocks at 60 baht to 75 baht a share ($1.45 to $1.69) is not expected to lure many investors. The sale of part of the Thai government's shareholdings in the airline, which Transport and Communications Minister Suthep Thaugsuban confirmed in early July 1998, is not expected to receive much enthusiasm from the market because of the high asking price set by the government. Thai Airways' stock at the Thai stock market closed at 40.50 baht per share on trading on Jul. 17, 1998.
Comment:
Its plan to sell stocks at 60 baht to 75 baht a share ($1.45 to $1.69) is not expected to lure many investors
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Bangkok to auction assets
Article Abstract:
Thailand will hold an auction of $11 billion worth of secured, unsecured and nonperforming loans on Dec 15, 1998. The loans from 56 failed companies will be disposed off by the Financial Restructuring Authority (FRA). The auction is part of the country's efforts at reforming its financial system. Investment analysts' predict that the loans will be sold with discounts of as much as 80%. However, government officials hope that the sale will close at 30% discount off the face value.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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