AirAsia X raises $309 million from Malaysia IPO

Despite tough market conditions worldwide, the Malaysian budget long-haul airline completes the country’s biggest IPO so far this year.

AirAsia X, a low-cost, long-haul airline that operates primarily in Asia, has raised M$987 7 million ($309 million) from its Malaysian initial public offering after fixing the price near the bottom of the indicative range The stock will start trading on July 10

AirAsia X is controlled by AirAsia, the Malaysian low-cost carrier (LCC) founded by Tony Fernandes, and is responsible for all the long-haul international flights under the AirAsia brand

The deal exceeds Cliq Energy’s $118 million offering in April as the biggest IPO in Malaysia so far this year, according to Dealogic It is also the first deal of size in the Malaysian market since the general elections on May 5, when the...

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