Listing Detail:
Listing Sought: Main Market
Issue Price: RM 1.45
Par Value: RM 0.15

Dates:
Offer Period Open: 10/6/2013
Offer Period Close: 19/6/2013
Tentative listing date: 10/7/2013

Number of shares:
Public Issue: 592,592,600
Offer for Sale: Up to 197,530,900
Private Placement: 538,011,800

Stock Code: AAX

Official Announcement

INITIAL PUBLIC OFFERING ("IPO" OR "OFFERING") OF UP TO 790,123,500 ORDINARY SHARES OF RM0.15 EACH IN AIRASIA X BERHAD ("AIRASIA X") ("IPO SHARES") IN CONJUNCTION WITH THE LISTING OF AND QUOTATION FOR THE ENTIRE ORDINARY SHARES OF RM0.15 EACH IN AIRASIA X ("SHARES") ON THE MAIN MARKET OF BURSA MALAYSIA SECURITIES BERHAD COMPRISING AN OFFER FOR SALE OF UP TO 197,530,900 EXISTING SHARES ("OFFER SHARES") AND A PUBLIC ISSUE OF 592,592,600 NEW SHARES ("ISSUE SHARES") COMPRISING:

(I) INSTITUTIONAL OFFERING OF UP TO 538,011,800 SHARES COMPRISING:

- UP TO 197,530,900 OFFER SHARES AND 79,740,200 ISSUE SHARES TO MALAYSIAN INSTITUTIONAL AND SELECTED INVESTORS,AND FOREIGN INSTITUTIONAL AND SELECTED INVESTORS AT THE INSTITUTIONAL PRICE TO BE DETERMINED BY WAY OF BOOKBUILDING ("INSTITUTIONAL PRICE"); AND

- 260,740,700 ISSUE SHARES TO BUMIPUTERA INSTITUTIONAL AND SELECTED INVESTORS APPROVED BY THE MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY AT THE INSTITUTIONAL PRICE,

(II) RETAIL OFFERING OF 252,111,700 SHARES COMPRISING:

- 52,111,700 ISSUE SHARES MADE AVAILA BLE TO THE ELIGIBLE PERSONS (AS DEFINED HEREIN);

- 50,000,000 ISSUE SHARES MADE AVAILABLE TO THE ELIGIBLE PASSENGERS (AS DEFINED HEREIN); AND

- 150,000,000 ISSUE SHARES MADE AVAILABLE TO THE MALAYSIAN PUBLIC,

AT THE RETAIL PRICE OF RM1.45 PER SHARE ("RETAIL PRICE") , PAYABLE IN FULL UPON APPLICATION AND SUBJECT TO REFUND OF THE DIFFERENCE, IN THE EVENT THAT THE FINAL RETAIL PRICE (AS DEFINED HEREIN) IS LESS THAN THE RETAIL PRICE, THE FINAL RETAIL PRICE WILL EQUAL THE INSTITUTIONAL PRICE, SUBJECT THAT IT WILL NOT EXCEED THE RETAIL PRICE.

THE INSTITUTIONAL OFFERING AND THE RETAIL OFFERING ARE SUBJECT TO THE CLAWBACK AND REALLOCATION PROVISIONS AND THE OVER-ALLOTMENT OPTION (AS DEFINED HEREIN).

AirAsia X launchs RM1 billion IPO

KUALA LUMPUR: Long-haul carrier AirAsia X, founded by entrepreneur Tony Fernandes, launched today an up to US$370 million (RM1.15 billion) initial public offering in Malaysia, seeking to raise funds to repay bank loans and for capital expenditures, according to a term sheet of the deal seen by Reuters.

The company and its shareholders are offering 790.1 million shares in an indicative price range for institutional investors of RM1.15 to RM1.45. About 75 per cent of the offering will come from new shares, according to the terms.

The deal is slated to be priced on June 24, with its debut set for July 10.

AirAsia X plans to use 44 per cent of the proceeds to repay bank loans, with another 22 per cent set for capital expenditures, according to the terms.

CIMB, Credit Suisse and Maybank were hired as joint global coordinators on the IPO, with Barclays, BNP Paribas, Citigroup, CLSA, HSBC and Morgan Stanley also acting as joint bookrunners.

-- Reuters

AirAsia X seeks to raise RM860m in IPO

KUALA LUMPUR, June 10 — Aviation tycoon Tan Sri Tony Fernandes said today that the long-haul arm of budget giant AirAsia hopes to raise up to US$277 million (RM860 million) in an initial public offering (IPO) ahead of its July 10 debut on the Malaysian bourse.

“Complete with our extensive route networks and passenger base, we have one of the lowest-unit cost base of any airline in the world,” the AirAsia founder said at the prospectus launch.

AirAsia X currently has 10 Airbus A330-300 planes and serves 14 routes across the region, including destinations in Australia, China, Japan and Saudi Arabia.

It will take delivery of another 23 of the planes over the next four years beginning in July, while it has also placed a firm order for 10 A350-900s beyond that.

In its summary prospectus, AirAsia X said the IPO could raise RM859 million (US$277 million) from sale of 592.6 million new shares for between RM1.15 to RM1.45 each.

A third of the funds raised will be used to repay debt while another third is slated for capital expenditure, with the balance going to working capital and listing expenses.

AirAsia X previously scrapped London flights because of the European debt crisis and focused on serving routes within Asia-Pacific, where sustained economic growth has swelled the middle class.

The International Air Transport Association (IATA) has described Asia-Pacific as the world’s fastest growing market, with passenger traffic more than doubling since 1998, despite fuel costs surging 55 percent since 2006.

IATA also forecasts the region’s industry size—already level with North America—to grow faster than the global average until 2031.

-- The Malaysian Insider