AAX places out 32 million shares to raise RM50mil

PETALING JAYA: AirAsia X Bhd (AAX) is placing out 32 million new shares to AHAM Asset Management, AIIMAN Asset Management and Lavin Group for RM50mil.

In a filing with Bursa Malaysia, AAX said the proposed placement, which represents 7.78% of the total number of issued AAX shares, will allow the company to raise funds expeditiously to fund the working capital requirements of the group.