Asia Aviation (AAV), the holding company of Malaysia-based Thai AirAsia, expects to raise Bt4.5 billion from the sale of 1.212 billion shares in its initial public offering (IPO). The IPO price has been set at Bt3.7. Of the total offering, 800 million shares have been sold to institutional investors and the remainder will be sold to retail investors from tomorrow until Friday. Thanachart Securities and CIMB Securities (Thailand) are co-underwriters. Tassapon Bijleveld, chief executive officer of Asia Aviation, said yesterday that the IPO price of Bt3.70 per share was appropriate. The issue among institutional investors locally and overseas was 11

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