AirAsia to raise RM250 million by selling more of its shares in a private placement exercise to stay afloat

AirAsia plans to sell as much as 668.4 million shares in its private placement exercises


Carl Adrian

12 Feb, 2021

AirAsia to raise RM250 million by selling more of its shares in a private placement exercise to stay afloat | BEAMSTART News

- From our Sponsors -

AirAsia, one of the most popular low-cost airlines in the world, has had a turbulent past year due to the global pandemic.

In a move to ensure the company can continue recovering, it will raise approximately RM250 million (US $61.82 million) of new funding via a private placement exercise involving 369.85 million shares.

Shares will be priced at RM0.675 cents each, a 9.82% discount in comparison to the company's average share price for the past 5-days at RM0.7485.

This is the first tranche of AirAsia's target to issue as much as 668.4 million shares under the proposed private placement exercise announced 3-weeks ago.

A large number of AirAsia planes have been grounded due to falling travel demand.

Analysts are expecting AirAsia to post a net loss of over RM2 billion for FY2020, with losses falling significantly in FY2021.

The airline expects to resume flying to most of its routes by the end of 2021, although passenger capacity may not return to pre-pandemic levels until 2023, according to CEO, Tony Fernandes.

- From our Sponsors -

Latest Jobs

Chief Executive Officer

Healthuno Healthcare India

Chennai, India (इंडिया)

Full Time

Salary Undisclosed

React Native Developer

SegWitz Sdn. Bhd.

Bandar Puteri Puchong, Malaysia

Full Time

MYR 4000 monthly

Affiliate Marketing Manager

Binance

Singapore

Full Time

SGD 2000 — SGD 2500 monthly

Senior Analyst, Product

Carsome

Petaling Jaya, Singapore

Full Time

Salary Undisclosed

Strategy and Growth Lead

Pluang

Jakarta, Indonesia

Full Time

Salary Undisclosed

3D Creative Designer

Nervape

Singapore , Singapore

Full Time

USD 4000 — USD 7000 monthly

Business Development Manager

Tourplus

Kuala Lumpur, Malaysia

Full Time

MYR 10000 — MYR 30000 monthly

Business Development Intern

BEAMSTART

Damansara Uptown, Malaysia

Internship

MYR 400 — MYR 500 monthly

HR Consultant/Recruiter

Fortune Cookie Wisdom Pte Ltd

Remote, Singapore

Contract / Freelance

Salary Undisclosed

Business Development Manager

Lumirous

Kuala Lumpur, Malaysia

Full Time

Salary Undisclosed

BEAMSTART is a hub for everything Startups, Entrepreneurship, and Innovation. Connect with a global community of people, and stay updated with the latest news, events, and opportunities.

 

Download the Community App

Connect with the BEAMSTART Entrepreneurship Community from the palm of your hands. Connect with CEOs/Founders, Investors, Business Leaders, and Professionals. Download below to instantly form partnerships and discover opportunities:

PlayStore ButtonAppStore Button

© 2016 - 2022 BEAMSTART. All Rights Reserved (Legal).