AirAsia to raise RM250mil under first tranche of shares placement exercise

KUALA LUMPUR: AirAsia Group Bhd will raise close to RM250mil by placing out about 369.8 million shares at 67.5 sen each.

This is the first tranche of the airline's target to issue as much as 668.4 million shares under the proposed private placement exercise announced three weeks ago.

"The actual number of Placement Shares to be placed out under the First Tranche will depend on the final acceptance by the identified placees," RHB Investment Bhd said in a filing today on behalf of AirAsia.

The placement price was a 9.8% discount to the stock's five-day volume weighted average price of 74.85 sen up to Feb 9.

"The issue price for each subsequent tranche will be determined and announced by the Board separately in due course," it said.

On Jan 21, AirAsia has announced a plan to raise as much as RM455mil by placing out up to 20%

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