May 30--Two Thai brothers have taken control of Nok
Airline Plc after Thai Airways International (THAI), its former largest
shareholder, did not buy new shares and warrants offered in a capital
Thaveechat and Nuttapol Chulangkul, heirs to Thai Summit Group, an
automotive parts manufacturer, became the largest shareholder group in
the budget carrier with a combined 28.9%. THAI, however, remains its
largest single shareholder.
Under the new shareholding structure, THAI holds 21.6% in Nok Air,
followed by Mr Thaveechat (15.6%) and Mr Nuttapol (13.3%). Before the
rights offering, THAI had 39.2% while Mr Thaveechat owned 10.2% and Mr
Nuttapol (12.1%), according to Stock Exchange of Thailand data.
Chai Srivikorn now has 2.8% in Nok while Siam Commercial Bank has
1.9%. Nok Air CEO Patee Sarasin owns 1.3% of the shares, followed by
Suwit Sampattanavorachai (1.3%), Barclays Capital Securities Ltd (1%),
Tassana Vichachareon (0.74%) and Boonsong Semsrisiwan (0.6%).
Nok Air launched a rights offering in mid-May to existing
shareholders to raise 1.5 billion baht from selling 625 million shares.
According to the SET, Nok Air posted net losses from 2014-16, at 471
million baht, 726 million and 2.76 billion baht, respectively.
In the first quarter 2017, the net loss was 296 million baht, bringing accumulated net losses to 3.72 billion baht.