AirAsia's Fernandes plans triple IPO in 2013 to raise up to US$550 million
October 12, 2012, 1:57 pm TWN
KUALA LUMPUR -- Malaysian tycoon Tony Fernandes plans to raise up to US$550 million by listing shares in the long-haul arm and Indonesian unit of AirAsia as well as in his insurance firm, a source said Thursday.
The plan comes as Fernandes tries to tap the Kuala Lumpur exchange's popularity as a center to launch initial public offerings, which has seen it rise to fourth globally despite the global slowdown.
A source familiar with the deal told AFP on condition of anonymity that the three listings likely to be launched next year — the long-haul AirAsia X, the Indonesian unit and Tune Insurance — were worth between US$400 million and US$550 million.