28-Feb-2011 4:17 PM
AirAsia Indonesia and Thai IPOs may raise USD400m
Analysis
AirAsia may reportedly raise as much as USD400 million from separate listings of its Indonesian and Thai units, the company expects to raise USD150 million to USD200 million in each offering, both of which will likely happen in 4Q2011. The carrier is seeking funding to order new aircraft, possibly including 175 of Airbus planned A320neo. Shares in AirAsia were 6% higher at the close of trading on Friday.
Summary
- AirAsia plans to raise up to USD400 million through separate listings of its Indonesian and Thai units.
- The company aims to raise USD150 million to USD200 million in each offering, expected to take place in the fourth quarter of 2011.
- AirAsia intends to use the funds to order new aircraft, potentially including 175 Airbus A320neo.
- Shares in AirAsia rose by 6% at the close of trading on Friday.
- SpiceJet shares surged by 7.4% following speculation about potential relaxation of foreign direct investment rules in the Indian aviation sector.
- The article provides selected daily share price movements for PEA (Public Electricity Authority) on 25th February 2011.
Elsewhere, shares in SpiceJet jumped 7.4%. Indian airline shares gained ground, following speculation that the Indian Finance Ministry may be considering relaxing the foreign direct investment rules in the aviation sector.
Selected PEA daily share price movements (% change): 25-Feb-2011