Low-cost carrier AirAsia Bhd plans to raise RM1bil from the issuance of new shares to the founders  Tan Sri Anthony Fernandes and Datuk Kamarudin Meranun.

It said on Friday it would place out 559 million new shares at an issue price of RM1.84 per share to Tune Live Sdn Bhd, which is owned by Fernandes and Kamarudin.

AirAsia said the subscription shares account for 16.7% of its enlarged issued and paid-up share capital and are to be issued at RM1.84 each to be satisfied in cash.


The issue price of RM1.84 per subscription share was based on the five-market day VWAP of the shares up to March 31, 2016.
As at March 28, 2016, the major shareholders, Fernandes and Kamarudin hold directly and indirectly a total of 18.9% in AirAsia and are also directors and substantial shareholders of Tune Live.

AirAsia said 34% of the RM1bil or RM342mil would be used to pre-pay unsecured term loan facilities and repay unsecured revolving credit.

Another RM275mil or 27.3% would be for the aircraft, spare engines and other aircraft parts and associated pre-delivery payments.

It said RM103.82mil would be used for the construction and development of its headquarters and

As for general corporate and working capital, it plans to allocate RM283.98mil or 28.2%.

http://www.thestar.com.my/business/business-news/2016/04/01/airasia-to-raise-rm1b-by-issuing-new-shares-to-tune-live/

(Visited 158 times, 1 visits today)