Adds particulars on airline's fundraise plan
Adds particulars on airline’s fundraise plan
KUALA LUMPUR, March 17 (Reuters) – AirAsia Group Bhd AIRA.KL has raised $82 million from TPG Capital executives, Aimia Inc and others by means of a non-public share placement, the Malaysian price range airline stated on Wednesday because it appears to be like to make sure liquidity in 2021.
The airline raised 336.46 million ringgit ($81.70 million) over two tranches by issuing 470.21 million new shares, representing 14.07% of the group’s complete issued shares.
The airline stated funding agency TPG Capital’s TPG.UL founder and chairman David Bonderman and TPG Asia Companions, together with Tim Dattels, Ganen Sarbananthan and Zubin Irani, have invested of their private capability.
Hong Kong businessman Stanley Choi, chairman at Head & Shoulders Monetary Group IPO-HDSH.HK and government director at Worldwide Leisure Company 1009.HK, additionally participated.
Choi has emerged as a considerable shareholder, elevating his stake to just about 9% final month, bourse filings confirmed.
Montreal-based funding agency Aimia Inc AIM.TO and different native and international institutional funds additionally invested, AirAsia stated, however didn’t share particulars of the dimensions of the investments.
AirAsia Group Chief Govt Tony Fernandes stated the location is a major a part of the group’s fundraising plan. The airline has stated it plans to lift as much as 2.5 billion ringgit by means of debt and fairness.
“Of the gross complete proceeds, AirAsia will allocate funds to assist gas hedging settlement, basic working bills, plane lease and upkeep funds and fund Airasia Digital enterprise models, particularly the Airasia tremendous app and BigPay fintech platforms,” he stated.
Fernandes final month stated the airline expects extra readability on its fundraising efforts, together with a government-guaranteed mortgage by the top of March.
The airline had proposed in January a non-public placement of as much as 20% of its complete issued shares, which if exercised totally, was anticipated to lift about 454.5 million ringgit.
($1 = 4.1180 ringgit)
(Reporting by Liz Lee; Enhancing by Arun Koyyur)
(([email protected]; Desk: +60323338039; Twitter: @livinglizly;))
The views and opinions expressed herein are the views and opinions of the creator and don’t essentially replicate these of Nasdaq, Inc.