Arab Today, arab today airasia x hopes to raise up to 300m from ipo
Last Updated : GMT 14:02:48
Arab Today, arab today
Arab Today, arab today

AirAsia X hopes to raise up to $300m from IPO

Arab Today, arab today

Arab Today, arab today AirAsia X hopes to raise up to $300m from IPO

Kuala Lumpur - AFP

Malaysian tycoon Tony Fernandes plans to raise up to $300 million by listing shares in the long-haul arm of AirAsia, slated for July, a source said Monday. AirAsia X would sell 790.12 million shares in the initial public offering (IPO) with listing scheduled for July 10 on Bursa Malaysia, a source familiar with the deal told AFP on condition of anonymity. The funds are expected to be used for a mixture of activities including capital expenditure and repayment of loans. Fernandes, who declined to reveal details of the IPO due to regulatory compliance, told AFP that a roadshow to promote his airline business would start in the second week of June with retail investors being his primary target. "Going to do a much larger retail offering to give back something to the thousands of people who flew and supported us. Roadshow will start in the second week of June," he said in an email message. "I will go on the road to meet retail investors," he added. The listing comes as Fernandes tries to tap the Kuala Lumpur exchange's popularity as a centre to launch initial public offerings. Shukor Yusof, an aviation analyst with Standard and Poor's Equity Research in Singapore said the AirAsia X listing would be a success. "It is doable. With Tony at the helm it lends credibility to the IPO. The financial market is conducive and there is an appetite for shares in a low cost carrier especially one with a proven track record like AirAsia, despite the global economic turbulence," he told AFP. AirAsia X flies to cities in Australia, Japan and China from Kuala Lumpur. Fernandes has previously announced plans to list AirAsia's Indonesian unit and Tune Insurance in a bid to raise funds to expand in a bigger marketplace. Tune Group is owned by Fernandes and his deputy Kamarudin Meranum who are founders of AirAsia, the region's largest budget carrier. Meanwhile Dow Jones Newswires said the planned offering by AirAsia X kickstarts the IPO momentum in Malaysia that saw deals worth about US$4 billion held back due to elections in the country earlier this month. Companies like power firm Malakoff, port and logistics company Westports and an oil-and-gas unit of UMW Holdings had delayed their offerings ahead of the May 5 elections, it said. Last year Malaysia saw IPOs worth close to US$12 billion raised, making it the number one country in Southeast Asia in terms of fundraising. So far this year, the country ranks fifth in Southeast Asia by deal value, Dow Jones said.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today airasia x hopes to raise up to 300m from ipo Arab Today, arab today airasia x hopes to raise up to 300m from ipo

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today airasia x hopes to raise up to 300m from ipo Arab Today, arab today airasia x hopes to raise up to 300m from ipo

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Ryanair's O'Leary: Could ground more planes

GMT 06:49 2017 Friday ,22 September

Ryanair's O'Leary: Could ground more planes
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Huthis stage defiant rally 3 years

GMT 05:29 2017 Friday ,22 September

Huthis stage defiant rally 3 years
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today All eyes on May as she prepares

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Youssra prepares for launching her  program

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 09:40 2017 Tuesday ,19 September

Actress Ream Hhagag prepares for a new film

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:03 2017 Thursday ,21 September

Alarm over flesh-eating ulcer cases

GMT 07:00 2017 Wednesday ,20 September

A no-frills business success

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday