In a filing with Bursa Malaysia yesterday, the low-cost carrier said the local bourse’s approval for the new shares, which will enable it to raise RM1bil, would be subject to several conditions.
Among the conditions were an approval by shareholders at an extraordinary general meeting (EGM) and also confirmation that all the relevant authorities’ approval had been obtained.
On April 1, AirAsia announced the decision by Fernandes and Kamarudin to pump RM1bil into the company via a placement exercise which will raise their stake from 18.9% now to 32.4%.
A total of 559 million new shares will be placed out at RM1.84 per share to Tune Live Sdn Bhd, a company equally shared by them.
Analysts and investors were positive on the plan and this had seen its shares rally.
The gross proceeds raised from the proposed shares issuance will be utilised for the prepayment and repayment of the company’s indebtedness, financing of aircraft, engines and parts, pre-delivery payments of aircraft, general corporate and working capital, and the expenditures related to the proposed shares issuance.
Part of the proceeds will be used to partially fund the construction of a new headquarters in KLIA2, which is scheduled to be completed by 2016.
The issue price was set on the basis that no dividends will be declared or paid on or after the date of the subscription agreement.
CIMB Investment Bank Bhd and RHB Investment Bank Bhd have been appointed by AirAsia as the Joint Principal Advisers for the proposed share issuance. Barring any unforeseen circumstance and subject to all relevant approvals being obtained, the proposed share issuance is expected to be completed by the third quarter.
AirAsia’s share price rose from RM1.83 on March 31 to close 10 sen higher at RM2.13 on Friday.
PETALING JAYA: AirAsia Bhd has received approval from Bursa Malaysia to list the 559 million new shares that will be issued to its owner, Tan Sri Tony Fernandes (pic) and his business partner Datuk Kamarudin Meranun.
In a filing with Bursa Malaysia yesterday, the low-cost carrier said the local bourse’s approval for the new shares, which will enable it to raise RM1bil, would be subject to several conditions.
Among the conditions were an approval by shareholders at an extraordinary general meeting (EGM) and also confirmation that all the relevant authorities’ approval had been obtained.
On April 1, AirAsia announced the decision by Fernandes and Kamarudin to pump RM1bil into the company via a placement exercise which will raise their stake from 18.9% now to 32.4%.
A total of 559 million new shares will be placed out at RM1.84 per share to Tune Live Sdn Bhd, a company equally shared by them.
Analysts and investors were positive on the plan and this had seen its shares rally.
The gross proceeds raised from the proposed shares issuance will be utilised for the prepayment and repayment of the company’s indebtedness, financing of aircraft, engines and parts, pre-delivery payments of aircraft, general corporate and working capital, and the expenditures related to the proposed shares issuance.
Part of the proceeds will be used to partially fund the construction of a new headquarters in KLIA2, which is scheduled to be completed by 2016.
The issue price was set on the basis that no dividends will be declared or paid on or after the date of the subscription agreement.
CIMB Investment Bank Bhd and RHB Investment Bank Bhd have been appointed by AirAsia as the Joint Principal Advisers for the proposed share issuance. Barring any unforeseen circumstance and subject to all relevant approvals being obtained, the proposed share issuance is expected to be completed by the third quarter.
AIRASIA (5099) - AirAsia gets approval to list 559 million new shares
AirAsia’s share price rose from RM1.83 on March 31 to close 10 sen higher at RM2.13 on Friday.
