Malaysia's AirAsia to raise up to $160 mln via share sale

14 September 2009

KUALA LUMPUR- Malaysia's AirAsia (AIRA.KL), Southeast Asia's largest budget carrier by fleet size, is expected to raise up to 560 million ringgit ($159.9 million) by selling shares, according to the deal term sheet.

AirAsia plans to sell 400 million shares via a private placement and has set an indicative price range of 1.33 ringgit to 1.40 ringgit a share for the sale, according to the term sheet obtained by Reuters.

CIMB (CIMB.KL) and Credit Suisse are the joint placement agents for the exercise and bookbuilding will be completed on Sept. 15.

($1=3.503 Malaysian Ringgit)