“The Ministry of Finance notified the Securities and Exchange Commission [SEC], the Ministry of Transport and THAI on Friday [May 22],” SEPC director Prapas Kong-led said on Friday. “THAI will later have to notify the Stock Exchange of Thailand of its share status and that it is no longer a state enterprise, although the SEC may not officially declare this immediately.”

A source from the Ministry of Finance revealed that the ministry would sell 3 per cent of its shares in THAI to Vayupak Fund 1, which is jointly managed by Krungthai Asset Management Plc and MFC Asset Management Plc. This will lower the ministry’s shareholding in THAI from 51.03 per cent to 48 per cent and free THAI of state enterprise regulations which should facilitate the rehabilitation plan.

According to SET data as of April 1, the five major shareholders of THAI are:

▪︎ Ministry of Finance, holding 1,113,931,061 shares or 51.03 per cent

▪︎ Vayupak Fund 1 under MFC Asset Management Plc, holding 165,037,582 shares or 7.56 per cent.

▪︎ Vayupak Fund 1 under Krungthai Asset Management Plc, holding 165,037,582 shares or 7.56 per cent

▪︎ Thai NVDR Co Ltd, holding 71,645,528 shares or 3.28 per cent

▪︎ Government Savings Bank, holding 46,409,885 shares or 2.13 per cent