Airports of Thailand plans listing

BANGKOK: Thailand's main airport operator plans to launch its initial public offering (IPO) by the third quarter of this year, a report said on Wednesday.

Airports of Thailand (AOT) managing director Bancha Pattanaporn told the Business Day newspaper that market conditions were expected to return to normalcy by then.

"We would like to push on with the plan as war in Iraq is likely to end soon, and as the deadly SARS (Severe Acute Respiratory Syndrome) outbreak subsides," Bancha was quoted as saying.

The company, formerly the Airport Authority of Thailand, would use the IPO proceeds to finance construction of the country's new Suvarnabhumi International Airport, which is scheduled to open in 2005, Bancha added.

The AOT postponed its share offering in October last year, a month before it was due to list, because of weak market conditions.

The company controls the airports of Bangkok, Chiang Mai, Hat Yai, Phuket and Chiang Rai, all of which serve international flights. -- AFP