KUALA LUMPUR, Feb 21 — AirAsia X Bhd (AAX) has fixed the price for its rights issue at 28 sen, which will raise up to RM116 million for the long haul budget airline's working capital requirements.
“The rights issue price represented 32.66 per cent discount to the theoretical ex-all price (TEAP) of the shares of 41.58 sen calculated based on the five-day volume-weighted average price (VWAP) of the shares as at Feb 18, 2022 of 55.15 sen,” it told Bursa Malaysia. "A further RM50 million is expected to be raised from the proposed share subscription via a special purpose vehicle (SPV)."
Mercury Securities Sdn Bhd, on behalf of the carrier, said the entitlement basis for the rights issue was one rights share for every one existing share held by the entitled shareholders on an entitlement date to be announced.
On Dec 14, 2020, AAX had said in a stock exchange filing that it wanted to raise RM500 million through a proposed renounceable rights issue of new ordinary shares in AAX to raise up to RM300 million, and issuance and allotment of new AAX shares to raise another RM200 million. — Bernama
