June 27, 2008
Bangkok - Bangkok Mass Transit System Plc (BTSC) is waiting for the court’s approval for the withdrawal of its creditors’ objection so that it can follow the rehabilitation plan.
BTSC CEO Kiri Kanchanapas said he expected the court would give its approval soon.
It would take BTSC one month to follow the rehabilitation plan.
Whether BTSC will list on the Stock Exchange of Thailand (SET) or not depends on the government’s decision or political situation.
“If the political situation becomes stable in a short time, the company may list on the SET in October as planned,” said Kiri.
Kiri revealed the government has not discussed the share buying with him yet.
BTSC has total listed capital of 16,400 million baht. The paid-up capital is 1,215 million baht.
The company has to seek funds to repay its 600 million US dollars to 14 creditor groups
