KUALA LUMPUR, June 10 – AirAsia X Bhd, the long-haul arm of the AirAsia Group, plans to raise up to RM859.3 million through its initial public offering (IPO) exercise, enroute to its listing on the Main Board of Bursa Malaysia Securities.
The sum is on the assumed institutional and retail price of RM1.45. AirAsia X, which is slated to be officially listed on July 10, 2013, plans to utilise about 33.3 per cent or RM285.809 million from the raised cash to repay bank borrowings within three months, while another 32.6 per cent (RM280 million) has been allocated for capital expenditure over 24 months.
Incorporated in 2006, the low-cost long-haul carrier, also plans to utilise about RM255 million from the proceeds to fund its general working capital.
AirAsia X’s listing will be the largest IPO in Malaysia for this year.
The AirAsia X IPO was jointly launched today by CIMB Group Chief Executive officer (CEO) Datuk Seri Nazir Razak, AirAsia Group CEO Tan Sri Tony Fernandes, AirAsia X Chairman Tan Sri Rafidah Aziz and CEO Azran Osman-Rani.
– BERNAMA
