News
Lion Air again to pursue IPO while Philippines AirAsia postpones listing debut
October 11th 2019
Lion Air could list shares by the end of this year, according to Indonesia Stock Exchange director, I Gede Nyoman Yetna. Read More » “Hopefully, they can present their information in full so we can process it quickly,” he said to Bisnis. He said Lion would use financial data to June 30, 2019. A Lion Air spokesperson declined to comment on the media reports.
Lion’s potential listing is part of two dozen prominent Indonesian companies planning Initial Public Offerings (IPO), Bloomberg said. Reports earlier this year said Lion was preparing an IPO and could raise US$1 billion. Lion’s abandoned 2016 IPO was estimated at the time to be able to attract investment of US$820 million for 30% of the group. Lion’s IPO ambitions have been on and off since 2005.
The Philippines AirAsia (PAA) IPO, however, is definitely postponed. The LCC has had a comparatively shorter public listing consideration dating back to 2015. PAA chairman, Joseph Omar Castillo, said the airline would try to list between the third quarter of 2020 and the first quarter of 2021.
The 23-aircraft airline last aimed for a US$600 million valuation and to raise US$200 million to fund aircraft growth, Reuters said. Michael L. Romero, who has disclosed he increased his equity in PAA to 60%, told Business World PAA now aimed for a US$1 billion valuation but would still raise US$200 million.
