Indonesia AirAsia and Philippines AirAsia confirm plans for bond issues and IPOs

AirAsia confirmed (17-Jun-2015) it is in the final stages of discussions with local partners to raise share capital at Indonesia AirAsia from USD13.81 million to USD100 million and Philippines AirAsia from USD13.28 million to USD100 million. The airlines will issue convertible bonds to new investors as part of a pre-IPO exercise. Both airlines are targeting IPOs in 2017 with valuations of USD700 million for Indonesia AirAsia and USD600 million for Philippines AirAsia. The company intends to float at least 20% of shares raising at least USD150 million. [more - original PR]