AirAsia X Gains $308.6m In IPO

AirAsia X has announced the price of its shares under its initial public offering (IPO). The IPO covers 790,123,500 ordinary shares, or 33 per cent of AirAsia X’s share capital, and is priced at RM1.25 per share. The airline raised a total RM987.7m or $308.6m approximately. Tan Sri Tony Fernandes, AirAsia X’s co-founder and non-independent non-executive director, added: “We have met more than 3,000 retail investors in Kuala Lumpur, Kota Kinabalu, Kuching, Johor Bahru, Penang, and Ipoh. “There was overwhelming demand for shares at RM1.45. To be specific, we had orders for 2 billion shares at RM1.45 and we had only 396 million shares available in the book-building exercise. We want to see retail investors benefit from this IPO and this is the reason why we priced it at RM1.25.”

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