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AAV Completes Baht 14 billion in Capital Raising Overwhelming response for newly issued shares

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Asia Aviation Plc. (AAV) today announced that it has successfully restructured its shareholding to increase working capital and liquidity through a recent rights offering to its existing shareholders of 1,714,285,714 ordinary shares worth Baht 3 billion that was fully subscribed within just five days since its made available to shareholders from  10 January 2022.

This followed the successful increase of  its registered capital by offering Baht 8.8 billion worth of private placements and the issuance of Baht 2.2 billion worth of convertible bonds. The three exercises contribute a total of Baht 14 billion of capital  injected into the company.

Executive Chairman of Asia Aviation Plc. and Thai AirAsia Co. Ltd., Tassapon Bijleveld, said that the overwhelming response to the latest rights offering of 1,714,285,714 ordinary shares worth Baht 3 billion that constituted the final phase of the company’s Baht 14 billion master capital raising plan signals strong support and confidence from shareholders despite the current economic doldrums and the COVID-19 situation. The issue was fully subscribed at the ratio of 5.7625 existing ordinary shares to 1 ordinary share at an offer price of 1.75 Baht per share. The better-than-expected response from the shareholders and investors reflects their full confidence in the company and its long-term growth potential.

”We would like to express our gratitude towards the shareholders and investors for their support and trust towards the board of directors and executive committee of AAV and Thai AirAsia. With our commitment that as soon as the situation is eased, we will continue to strive and lead the company to grow forward sustainably.” Tassapon said.

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