AAX said it would expedite the process by ceasing the proposed internal reorganisation and proceeding with the proposed acquisitions directly under AAX.
KUALA LUMPUR: AirAsia X Bhd
(AAX) has filed a listing application and draft circular with Bursa Malaysia Securities Bhd for its proposed acquisition of Capital A Bhd’s stakes in AirAsia Aviation Group and AirAsia Bhd.
In a statement, AAX stated it would expedite the process by ceasing the proposed internal reorganisation and proceeding with the proposed acquisitions directly under AAX.
Upon approval obtained from Bursa Malaysia and despatch of the circular to our shareholders, an EGM will be convened in 21 days.
The carrier said the completion of the proposed acquisitions is set to be by year-end, establishing an enlarged aviation group under the AirAsia brand, and signifying a new era for the aviation giant.
With the proposed acquisitions, AAX shareholders gain the opportunity to access Capital A’s aviation business valued at RM6.8bil through an RM3bil new shares issuance.
