Air Asia X sells $308m worth of shares

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Azran Osman-Rani, chief executive of AirAsia X
Azran Osman-Rani, chief executive officer of AirAsia X

Long-haul discount carrier Air Asia X has raised $308 million from its initial public offering after pricing its shares at 1.25 ringgit at the lower end of the price band, wire reports on June 21 said.

AirAsia X began taking orders on June 10 for the 790.1 million shares on offer, with retail investors paying the same price as institutional investors. The airline initially planned to close its books to retail investors on June 19, before taking its last institutional orders on June 24, way ahead of its planned July 10 listing date.

The institutional part of the share sale was five times oversubscribed, with banks receiving orders for over $1.2 billion, underscoring investors’ confidence in the low-cost airline business model of the AirAsia Group.

The news on the share sale came after Thailand’s low-cost carrier Nok Air saw a successful IPO at the Stock Exchange of Thailand on June 20.

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Reading Time: 1 minute

Azran Osman-Rani, chief executive officer of AirAsia X

Long-haul discount carrier Air Asia X has raised $308 million from its initial public offering after pricing its shares at 1.25 ringgit at the lower end of the price band, wire reports on June 21 said.

Reading Time: 1 minute

Azran Osman-Rani, chief executive of AirAsia X
Azran Osman-Rani, chief executive officer of AirAsia X

Long-haul discount carrier Air Asia X has raised $308 million from its initial public offering after pricing its shares at 1.25 ringgit at the lower end of the price band, wire reports on June 21 said.

AirAsia X began taking orders on June 10 for the 790.1 million shares on offer, with retail investors paying the same price as institutional investors. The airline initially planned to close its books to retail investors on June 19, before taking its last institutional orders on June 24, way ahead of its planned July 10 listing date.

The institutional part of the share sale was five times oversubscribed, with banks receiving orders for over $1.2 billion, underscoring investors’ confidence in the low-cost airline business model of the AirAsia Group.

The news on the share sale came after Thailand’s low-cost carrier Nok Air saw a successful IPO at the Stock Exchange of Thailand on June 20.

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