The source said THAI was considering the proposal but thought the price was too high when compared with its investment of Bt99.6 million for a 49.8 per cent stake in Thai Tiger Airways.
THAI sent a proposal to the bank in April and August to buy 5 million KTB shares in Nok Air at a price of Bt13 each to boost its shareholding in Nok Air to 49 per cent from the present 39 per cent.
THAI executive vice president for strategy and business development Chokchai Panyayong said THAI was evaluating the KTB proposal as well as Nok Air's business plan and business risk factors. THAI wants to raise its shareholding in Nok Air but the price proposed by KTB was as high as THAI's share price. Therefore THAI had to study what should be a fair price.
THAI shares closed at Bt42.25 yesterday, up 3.68 per cent from the previous day.