Wednesday, May 30, 2012

Reuters: Hot Stocks: STOCKS NEWS THAILAND-Asia Aviation up over 8 pct on debut

Reuters: Hot Stocks
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STOCKS NEWS THAILAND-Asia Aviation up over 8 pct on debut
May 31st 2012, 03:26

Wed May 30, 2012 11:26pm EDT

Shares of Asia Aviation Pcl, owner of the Thai affiliate of Malaysia-based budget carrier AirAsia Bhd , rose as much as 8 percent above their initial public offer price in their debut on Thailand's main stock exchange.

By 0302 GMT, Asia Aviation shares were trading at 3.84 baht ($0.12), 3.78 percent above the IPO price of 3.7 baht ($0.12). Trading volume was at a high of 330 million shares.

Asia Aviation, a holding company that owns 51 percent of budget carrier Thai AirAsia, raised 4.5 billion baht ($141.18 million) in its initial public offering this month.

(Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com)

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