Thailand's Asia Aviation seeks to raise $419m as travel picks up

After announcing an acquisition of 39 per cent stake in Thailand's listed Asia Aviation Pcl, Thai duty-free tycoon Vichai Srivaddhanaprabha informed the Stock Exchange of Thailand to make a tender offer to purchase the remaining stake at the same price of 4.20 baht apiece.

After denying a number of rumours earlier, the Bijileveld family, major shareholders of Asia Aviation Plc (AAV), agreed to sell their 39 per cent stakes to the Srivaddhanaprabha family for 7.94 billion baht ($225.87 million).