Asia Aviation Public Company Limited (SET: AAV) has priced its newly issued ordinary shares offered to the existing shareholders from 10 January 2022 to 14 January 2022 at THB 1.75 per share.
The announcement came after the Extraordinary General Meeting of Shareholders of the company, held on 26 November 2021, resolved to approve the allocation of newly issued ordinary shares in the amount of not more than 1,714,285,714 shares with a par value of 0.10 baht per share for offering to the company’s existing shareholders proportionate to their shareholdings (Rights Offering).
The capital increase was a part of AAV’s restructuring plan to repay loans to financial institutions, to purchase all the remaining shares of Thai AirAsia which is 30.8 percent of the total shares of Thai AirAsia and to be used as working capital of the Company’s group including Thai AirAsia.
