BTS Group Holdings Pcl. (SET: BTS), Bangkok Airway Pcl. (SET: BA) and Sino-Thai Engineering and Construction Pcl. (SET: STEC) announced on Monday the incorporation of a new joint venture company, UTB Company Limited, to manage airport city in U-Tapao International Airport and Eastern Airport City Project.
According to the shareholding structure, BTS owns 55% of the company, BA owns 25%, and STEC owns 20%.
The new joint venture company’s initial capital is THB10,000,000, divided into 100,000 ordinary shares with a par value of THB100 each.