The Cabinet today allowed the Finance Ministry to sell shares in Esso (Thailand) to the Vayupak Fund 1 for Bt1.7 billion.
The ministry did not specify the number of shares to be sold, but said the shares could be sold at the price of Bt5-6.50 each.
Finance Minister Korn Chatikavanich said at the Cabinet meeting that the ministry prefers direct sale of the shares to Vayupak Fund rather than through the Stock Exchange of Thailand. This way, it will limit the impact on Esso's share prices, he said
Deputy government spokesman Watchara Kannikar said that the Finance Ministry wants to raise the amount, in advance of capital injection into Thai Airways International.
THAI plans to raise Bt12-Bt20 billion by selling no more than 1 billion shares in the third quarter. It will announce the public offering detail this Friday.