Thai Finmin To Support Thai Air Fund-Raising

March 29, 2010

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Thailand's Finance Ministry will support a fund-raising plan by national carrier Thai Airways, Finance Minister Korn Chatikavanij said on Monday.

The airline plans to sell up to 1 billion new shares to the public and shareholders, including the Finance Ministry, in an offer worth THB28.5 billion baht (USD$880 million) at the current market price.

The state-controlled airline has said it will offer some of the new shares to the Finance Ministry so the ministry can maintain its stake at 51 percent.