11-Jun-2010 11:13 AM

AirAsia X considers listing on Hong Kong or New York stock exchange

AirAsia X is reportedly considering listing on the Hong Kong or New York stock exchange, following proposals from foreign investment banks pitching to secure the mandate for the carrier’s IPO (The Star Online, 10-Jun-2010). The IPO is likely to value the carrier at USD500-600 million. AirAsia X is 48% owned by Aero Ventures Sdn Bhd, while Virgin Group and AirAsia Bhd each have a 16% stake in the LCC. Orix Group and Manara Consortium each own 10% stakes. The carrier will remain majority owned by Malaysians and is reportedly in talks with a Malaysian Government-linked fund to take up a strategic stake. Goldman Sachs, Credit Suisse and Royal Bank of Scotland have been lobbying for the IPO mandate.

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