07 July 2009
AirAsia Bhd, Southeast Asia’s largest low-cost airline, rose for the first time in three days in Kuala Lumpur trading after saying it may sell all of a planned new share issue to a single investor
The stock added 1.8 per cent to RM1.12 at 9:04am.
AirAsia, which is planning to issue as much as 20 per cent more stock, is considering selling the stake to a single institutional fund or a strategic investor as part of a plan to reduce debt, chief executive officer Datuk Seri Tony Fernandes said in an interview late yesterday.
A strategic investor might be a private equity firm or a partner in the tourism industry, said Fernandes. He said he plans to meet potential buyers this month and the share sale should be completed in early August.