US$500m IPO target for Bangkok Airways

[BANGKOK] Thai full-service carrier Bangkok Airways PCL plans to sell a 24.8 per cent stake in an initial public offering (IPO) in October, which two people familiar with the matter said is aimed at raising US$500 million.

Bangkok Airways in a statement said that it plans to offer 520 million new shares in a sale in "the middle" of next month to fund expansion. The IPO would be the latest in a string of IPOs in Thailand since the military began to govern the country in May after months of anti-government protests.

Bangkok Airways, which also owns three airports, began pre-marketing this week and expects to start the IPO's book-building exercise early next month, one person in the finance industry with knowledge of the plan told Reuters on Monday.