AirAsia shares slip 7.08pc following fixing rights issue date

Tail of AirAsia X plane as seen at the Garuda Maintenance Facility AeroAsia in Tangerang, Indonesia, September 20, 2017. — Reuters pic
Tail of AirAsia X plane as seen at the Garuda Maintenance Facility AeroAsia in Tangerang, Indonesia, September 20, 2017. — Reuters pic

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KUALA LUMPUR, Nov 19 — AirAsia Group Bhd, the third most actively traded stock on Bursa Malaysia on Friday, slipped 7.08 per cent after the budget airline announced it had fixed the entitlement date for its renounceable rights issue of redeemable convertible unsecured Islamic debt securities (RCUIDS).

At the close, shares of the low-cost airline fell eight sen to RM1.05, with 90.53 million shares changing hands.

In a filing with Bursa Malaysia, AirAsia said it had fixed the exercise price of its warrants at RM1.00, lower than the 20 per cent premium to its 30-day volume-weighted average price up to and including Nov 17, 2021, of RM1.1763 per share.

The warrants comprised part of its ongoing rights issue programme, including the issuance of RCUIDS to raise up to RM974.51 million.

It also fixed the entitlement date and ex-date for its renounceable rights issue for Dec 2, 2021 and Dec 1, 2021 respectively.

Trading for the rights of the RCUIDS will commence from Dec 3 to Dec 10, with the despatch date set on Dec 6. The last day and time for acceptance, renunciation and payment are on Dec 17, 2021.

The subscription results will be announced on Dec 24, it added.

AirAsia said the RCUIDS will be listed on Dec 31, 2021, under the short stock name and number of AIRASIA-LR and 5099LR respectively. — Bernama

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