AirAsia X IPO share price fixed at RM1.25

KUALA LUMPUR: AirAsia X Bhd has fixed its initial public offering (IPO) price at RM1.25 per share and have raised RM987.7mil from its share sale.

The IPO comprises 790.12mil ordinary shares, or 33% of AirAsia X's enlarged share capital, included the issuance of new shares.

Independent non-executive chairman Tan Sri Rafidah Aziz said the company have settled to price the shares at the low to mid-range to benefit investors.

“As the book was about 5 times covered at the top end of the range, we would have been able to comfortably price it at the initial RM1.45 per share,” she said.

Co-founder Tan Sri Tony Fernandes said the company had orders for two billion shares at RM1.45 and had only 396 million shares available in the bookbuilding exercise.

“We want to see retail investors benefit from this IPO and this is the reason why we priced it at RM1.25. The success of AirAsia X is because of their support and we want to reward them,” he said.