Quick take: AirAsia shares up 6% amid stake disposal news

KUALA LUMPUR: AirAsia Group Bhd share price rose 6% in the morning trade on news that the carrier is in talks to sell 10% of its shares.

The budget carrier rose 6.06%, or five sen to 88 sen, its highest since April 20 while AirAsia X added 4.55%, or 0.5 sen to 11.5 sen. Both counters are among the most actively traded on Bursa Malaysia.

StarBiz reported that AirAsia is in talks to sell 10% of its shares to South Korea’s third largest conglomerate SK Corp.

The stake sale will take place through a private placement of new AirAsia shares at RM1 a share, said sources.

Should the deal materialise, AirAsia will raise an estimated RM334.2mil from the placement of new shares.

According to sources, SK Corp had initially intended to acquire more than 10% of AirAsia’s shares.

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SK Corp , AirAsia , AirAsia X


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