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...

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