Thai AirAsia’s controlling shareholder will raise $143 million from IPO

The initial public offering of Asia Aviation, the holding company of budget airline Thai AirAsia, is set to raise Bt4.49 billion $143 million after the price was fixed near the top end of the price range.

The deal drew strong demand from both international and domestic institutions, and priced at Bt3.70 per share, after being marketed at a price between Bt3.30 and Bt3.80, sources said.

In addition to the IPO, a number of existing shareholders are also selling secondary shares through a private placement to domestic institutions and retail investors that will be sold at the same price as the IPO. It will be...