Qui c'è un bella sintesi della situazione tawnf
4 OTC Stocks to Watch Before They Surge: APYP EEGI HSSHF TAWNF - Insider Financial
OTC STOCKS TO WATCH TAWNF
The stock price of Thai Airways International Public Co., ltd has surged from 10 cents last week to $0.3 at the time of writing.
The Thai company engages in airline operations and has three segments:
Air Transportation Activities – it offers passenger, freight, and mail services.
Business Unit – it provides cargo and mail commercial, ground customer, and catering services.
Other Activities – it includes dispatch services, sales on board, THAI shop, and technical services.
It’s worth mentioning that the Thai government has a major share in the company, which is now working to restructure its huge debt.
While the pandemic has been a severe **** to the company’s operations, it had been in difficulty many years prior to that. Following the pandemic and debt issues, the government cut its stake to 47.86%, ending its status as a state-backed enterprise.
Exactly one year ago, Thai Airways International, which lost over $4.5 billion in 2020, submitted a request to a bankruptcy court for rehabilitation of its debt. The request was approved, which gave the airline time to negotiate with its creditors. During the last few months, the company has focused on debt restructuring, with any update causing fluctuations in the stock price.
In mid-March, TAWNF surged to over $5 for a short time. Earlier that month, Thailand’s finance ministry, still the largest shareholder of Thai Airways International, expressed its support for a restructuring plan that includes raising fresh capital, a temporary freeze on repayment of borrowings and cutting its workforce by 50% to return the debt-ridden company to profit, as per Bloomberg. However, it seems that shareholders didn’t reach a consensus, causing a slump in the stock price.
Creditors and shareholders should have met on May 15 to discuss the restructuring plan, but the meeting was postponed to May 19. The company needs more than 50% of its creditors to accept the plan.
All in all, May 19 will be a huge day for TAWNF, and we think you should definitely keep an eye on the stock. Some sources indicate that creditors would indeed reach an agreement.