AirAsia X to issue 592.59m new shares under IPO (Update)
AirAsia X Bhd has proposed to issue 592.59 million new shares under its initial public offer as it seeks to list on the Main Market of Bursa Malaysia.
In its draft prospectus posted on the Securities Commission website on Wednesday, it offered to sell up to 197.53 million existing shares.
AirAsia X is the sister company of low-cost carrier AirAsia Bhd.
AirAsia X said the total IPO offering will involve up to 790.12 million shares of 15 sen each comprising of 538.01 million shares for institutions and 252.11 million shares for retail investors.
The institutional offering of up to 538.01 million shares would comprise of up to 197.53 million offer shares and 79.74 million issue shares to Malaysian and foreign institutions and selected investors.
It would also include 260.74 million issue shares to Bumiputera institutional selected investors.
The share price under the institutional offering would be determined after a bookbuilding exercise.
As for the retail offering of 252.11 million shares, it would comprise of 52.11 million issue shares to eligible persons, 50 million issue shares to eligible passengers and 150 million issue shares to the Malaysian public.