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Thai AirAsia seeks to raise $235m in IPO
Thai AirAsia’s parent company, Asia Aviation Plc, is seeking to raise as much as US$235 million (Bt7.4 billion) in a Bangkok initial public offering, according to a term sheet obtained by Bloomberg News.
The company, along with six shareholders, is offering 1.94 billion shares for Bt3.30 to Bt3.80 apiece, the document shows. The selling shareholders include Asia Aviation CEO Tassapon Bijleveld.
Asia Aviation began taking orders on Monday, and plans on pricing the IPO by tomorrow, according to the sales document. The company, which expects the shares to start trading on May 31, will use the IPO proceeds to expand Thai AirAsia’s fleet, and for general corporate purposes, the document shows.
The IPO will be managed by Credit Suisse Group, CIMB Group Holdings and Thanachart Capital Plc, according to a February filing. The sale was delayed from the fourth quarter of last year because of flooding across much of Thailand, Tassapon said earlier that month. – Bloomberg
Group seeks securities personnel upgrade
The Association of Securities Companies recently proposed to the Securities and Exchange Commission and Stock Exchange of Thailand the upgrading of financial analysts, industry personnel and investors to gain investor confidence.
“We need to see higher quality securities analysts and more coverage on smaller-capitalised stocks, besides those in the SET50,” Pattera Dilokrungthirapop, ASCO chairwoman, said yesterday.
Each analyst should cover no more than 15 stocks for non-bank sectors and each stock should be analysed in research at least four times a year.
About 400 new marketers as well as 1,000 existing ones may need to be upgraded to provide quality advice for investors.
“We also need to bring investors into the industry with quality, boost investor confidence in trading and address their issues,” she said. – The Nation
CMO sees big jump in revenue
Event organiser CMO enjoyed a 116-per-cent leap in first-three-month revenue to Bt509 million from Bt235 million in the same quarter last year, while net profit skyrocketed eightfold to Bt71 million from Bt6.7 million.
CEO Sermkhun Kunawong said yesterday that the company benefited from the BOI Fair 2011, which was held in January after it was postponed from November last year due to the devastating floods.
Besides this grand production, the company participated in major events like The Royal Flora Ratchaphruek Fair 2012 in Chiang Mai, HomePro Expo, CP the Biggest Eater Competition Grand Final, Canon Wind Turbine 2012 and Swaroksi SCS 2012. More events are coming in the rest of this year.
This year CMO also invested in the Bangkok Creative Playground in preparation to welcome new clients from Southeast Asia countries after the region becomes a single market under the Asean Economic Community in three years. – The Nation
GHB offers cut-rate mortgages
The Government Housing Bank would offer lower mortgage rates for homebuyers visiting its booth at the Money Expo from tomorrow to May 25 at Impact Muang Thong Thani.
President Voravit Chailimpamontri said yesterday that borrowers could enjoy a zero-per-cent mortgage rate for six months. First-time homebuyers could get the zero rate for three years on a residence worth no more than Bt1 million, he said. – The Nation
Sansiri targets Bt36bn in pre-sales
Sansiri Plc has revised its pre-sales target up from Bt32 billion to Bt36 billion for this year after bookings reached Bt12 billion in the first quarter, president Srettha Thavisin said yesterday.
In the quarter, the residential developer earned Bt340 million, up 57 per cent on year, on revenues of Bt5.18 billion, up 42 per cent.
– The Nation
Correction
The Nation on May 12 incorrectly reported that DHL would launch a $2.7-million distribution centre on Rama III Road in Bangkok as part of the company’s expansion plan to support increasing demand in Thailand. In fact, the investment in the centre was 2.7 million euros.
