AirAsia X Shares Up After Securing RM1 Bln Private Placement
KUALA LUMPUR, Jan 14 (Bernama) -- AirAsia X Bhd’s (AAX) shares rose in early trading after fully securing its RM1 billion private placement at RM1.65 per share, following its Tuesday announcement.
At 10.10 am, the stock was up seven sen to RM1.79, with 1.78 million shares traded.
To recap, AAX said the placement, fully subscribed by a broad mix of institutional and private investors, marks a key step towards the formation of the enlarged AirAsia group as the company enters the final stage of its aviation restructuring.
The long-haul budget airline said the transaction is scheduled to be completed on Jan 19, 2026, with the new shares to be listed on Bursa Malaysia’s Main Market on the same day.
On April 25, 2024, AAX had announced plans to acquire AirAsia Aviation Group and AirAsia Bhd for a combined RM6.8 billion, alongside a proposed RM1 billion private placement.
Meanwhile, Capital A Bhd chief executive officer Tan Sri Tony Fernandes said in a LinkedIn post that AAX will be renamed AirAsia and listed as a newly quoted stock on Jan 19, while Capital A will submit its application on the same day to be uplifted from PN17 status, with the final court hearing scheduled for Jan 21.
Public Investment Bank Bhd, in a note today, said AAX anticipates that its fourth and first quarters will be buoyed by the peak holiday season, supported by encouraging forward bookings in its core markets.
The group maintains a fleet of 19 A330 aircraft, 18 of which are currently operational, with the reactivation of the final aircraft delayed due to global maintenance, repair, and overhaul backlogs, it said.
“The merger of Capital A’s aviation arm into AAX is nearing completion, and the result will be a larger, more streamlined aviation group with greater scale and operational synergy.
“We maintain our “Outperform” call and ex-all target price of RM2.15 (adjusted for the private placement and acquisition of AirAsia Aviation Group Ltd), based on seven times our estimated merged entity’s financial year 2026 forecast earnings per share,” it added.
-- BERNAMA