AirAsia X share listing ‚Äújust tip of iceberg”

AirAsia X share listing ‚Äújust tip of iceberg”
By admin


AirAsia X has released the prospectus for its initial public offering (IPO) of shares ahead of the low cost carrier’s listing on the Malaysian stock exchange in July.

The IPO exercise will see a total of 790,123,500 shares of RM0.15 (AU$0.05) each in AirAsia X become available.

Independent non-executive chairman Rafidah Aziz said access to funding from the capital market will “propel” the airline’s expansion plans and growth strategies.

“We have always been at the forefront of providing an affordable avenue for price-sensitive travellers,” he said. “Apart from leveraging on the strong brand of the AirAsia Group, this exercise will enable us to enhance our stature in the aviation industry and expand our market position in the Asia Pacific region.”

As he revealed plans for the listing's proceeds of up to RM859.3 million (AU$291.4m), the airline’s co-founder and director Tony Fernandes highlighted the airline’s progress since its launch in 2006.

“My vision of creating a domestic hub for local and international passengers alike has come to fruition,” he said. “We are expanding our group further, and this is just the tip of the iceberg. This is testament that the low-cost, long-haul airline is pioneering a breakthrough business model that can unlock similar new demand as how short-haul LCCs revolutionised travel.”

Meanwhile, group chief executive of CIBM Group Nazir Razak aniticipated a “significant investor following” for the airline.

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