'Good response' to NOK IPO
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Nok Air's initial public offering (IPO) of ordinary shares to investors on June 12-14 received an overwhelming response from investors, raising Bt3.25 billion from newly issued ordinary shares and Bt1.625 billion from shares offered by an existing shareho
ML Thongmakut Thongyai, chief executive officer of SCB Securities, said, “Despite market volatility during the past week, the IPO was successful as investors showed strong confidence in Nok Air due to its sound financial record, strong fundamentals and clear growth prospects.”
The shares will trade under the symbol NOK.
NOK’s price-to-earnings (P/E) ratio of 11.5 times is considered to be significantly lower than the industry average of 14 times as calculated by analysts, and lower than competitor airlines’ P/E ratio of 18 times.
“I believe these factors contributed to the interest we got from investors for the NOK IPO shares,” Thongmakut added.
The subscription price of the NOK IPO was Bt26 per share, with a par value of Bt1 per share.
The company’s market capitalisation totals Bt16.25 billion.
The carrier’s shares will commence trading in the Transportation & Logistics Sector on Thursday.
