Savings and Credit Cooperative Alliance agrees to manage Thai Airways shares together
Major shareholders representing a significant portion of the airline's equity have entered a strategic pact to synchronise their future investment moves.
- The Savings Cooperatives Alliance, which holds a combined 12.46% of Thai Airways (THAI) shares, signed an agreement to manage their holdings under a unified framework.
- As part of the coordinated management, the alliance has agreed not to sell its shares immediately after the first lock-up period expires on February 4.
- A representative committee will be established to oversee any future share sales, which will be conducted as a single, orderly process to maintain price stability and investor confidence.
The Savings and Credit Cooperative Alliance, which holds a combined 12.46% of the total issued and paid-up shares of Thai Airways International Public Company Limited (THAI), signed a Memorandum of Understanding (MOU) on Friday (January 30).
This agreement expresses their intent to manage their THAI shares under a unified process and coordinated framework.
A "Committee" will be established to act as a representative for coordination among the various cooperatives.
This ensures that future actions are carried out efficiently, fairly, transparently, and accountably.
These operations will follow the guidance of financial advisors, selling agents, or underwriters to be appointed in the future, in accordance with relevant laws and regulations.
The Savings and Credit Cooperative Alliance remains confident in THAI’s fundamentals, its ability to generate stable performance, and its continuous growth opportunities.
Furthermore, each cooperative within the alliance maintains a strong financial position with sufficient liquidity and cash flow for operations and dividend payments.
The alliance has mutually agreed not to sell THAI shares immediately after the expiry of the Lock-up Period, the first of which ends on February 4.
Any future share divestment by the alliance will be conducted through a unified process, considering comprehensive factors such as appropriate share prices reflecting fundamentals, optimal timing, feedback from bookbuilding processes, and overall capital market conditions.
This approach aims to maintain share price stability and investor confidence while avoiding significant impacts on the share price and the broader capital market.
