News
AirAsia Group raises US$21.1 million from second share placement
March 17th 2021
AirAsia Group has completed the second tranche of its private share placement, which raised 86.8 million ringgit (US$21.1 million) from the sale of 100,367,362 new shares at 0.865 ringgit per share. Read More » The shares were purchased by local and foreign institutional funds, including Aimia Inc., as well TPG Capital chairman, David Bonderman, and TPG Asia partners, Tim Dattels, Ganen Sarbananthan and Zubin Irani investing in a "personal capacity", the group said in a statement.
"We are thrilled by the investors’ confidence in our turnaround plans. This proves our capability to raise funds from institutional and private strategic investors in the capital market, both locally and abroad," AirAsia Group CEO, Tony Fernandes, said.
The 336.46 million ringgit raised from the sale, combined with the first tranche of the private share placement, will support fuel hedging settlements, general working expenses, aircraft lease and maintenance payments and fund AirAsia's digital business units, the LCC group said. Previously, the company had aimed to raise two billion ringgit to 2.5 billion ringgit to shore up its operations during the COVID-19 crisis.
