AirAsia to raise RM250m via first tranche of private placement

AirAsia planes are seen on the runway at Kuala Lumpur International Airport August 19, 2014. — Reuters pic
AirAsia planes are seen on the runway at Kuala Lumpur International Airport August 19, 2014. — Reuters pic

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KUALA LUMPUR, Feb 10 — Low-cost airline, AirAsia Group Bhd is expected to raise approximately RM250 million through the first tranche of its private placement involving 369.85 million shares valued at 67.5 sen each.

The issue price, which was fixed today, represented a discount of 9.82 per cent to the company’s five-day volume weighted average price of 74.85 sen up to February 9.

“The actual number of placement shares to be placed out under the first tranche will depend on the final acceptance by the identified placees.

“Any placement shares not placed out under the first tranche will be included in the subsequent tranches,” said RHB Investment Bank Bhd said in a filing to Bursa Malaysia on behalf of AirAsia.

To recap, AirAsia had on January 21 announced it would undertake a private placement with the issuance of 668.4 million shares to raise up to RM454.5 million to finance its working capital, among others.

The private placement represents up to 20 per cent of its total number of issued shares. — Bernama

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