AirAsia X plans to raise up to $370m

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airasia X flight attendantsThe initial public offering of Malaysia’s long-haul low-budget carrier is expected to raise $370 million on its debut slated for July 10 at the Bursa Malaysia, significantly more than the $250 million initially envisaged by AirAsia group CEO Tony Fernandes.

AirAsia X launched the offering on June 10, seeking funds for its fleet expansion within Asia-Pacific. The carrier plans to add 13 Airbus A330 in 2013 and wants to take its fleet to 23 aircraft by 2014. The company also plans to launch a local arm in Thailand, Thai AirAsia X.

AirAsia X and its shareholders are offering 790.1 million shares in an indicative price range for institutional investors of 1.15 ringgit to 1.45 ringgit per share, according to Reuters. About 75 per cent of the offering will come from new shares. CIMB, Credit Suisse and Maybank were hired as joint global coordinators for the IPO.

Another IPO of the group’s subsidiaries, Indonesia AirAsia, is planned for the fourth quarter of 2013 and expected to raise $200 million.

 

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Reading Time: 1 minute

The initial public offering of Malaysia’s long-haul low-budget carrier is expected to raise $370 million on its debut slated for July 10 at the Bursa Malaysia, significantly more than the $250 million initially envisaged by AirAsia group CEO Tony Fernandes.

Reading Time: 1 minute

airasia X flight attendantsThe initial public offering of Malaysia’s long-haul low-budget carrier is expected to raise $370 million on its debut slated for July 10 at the Bursa Malaysia, significantly more than the $250 million initially envisaged by AirAsia group CEO Tony Fernandes.

AirAsia X launched the offering on June 10, seeking funds for its fleet expansion within Asia-Pacific. The carrier plans to add 13 Airbus A330 in 2013 and wants to take its fleet to 23 aircraft by 2014. The company also plans to launch a local arm in Thailand, Thai AirAsia X.

AirAsia X and its shareholders are offering 790.1 million shares in an indicative price range for institutional investors of 1.15 ringgit to 1.45 ringgit per share, according to Reuters. About 75 per cent of the offering will come from new shares. CIMB, Credit Suisse and Maybank were hired as joint global coordinators for the IPO.

Another IPO of the group’s subsidiaries, Indonesia AirAsia, is planned for the fourth quarter of 2013 and expected to raise $200 million.

 

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