Friday 29 Mar 2024
By
main news image

KUALA LUMPUR (Mar 18): AirAsia Bhd group CEO Tan Sri Tony Fernandes said the company may list its operating units in Indonesia and the Phillipines following better ticket sales at the regional entities.

Fernandes said via Twitter, "Great sales in Indonesia and Phillipines. May reconsider IPO (for) both countries."

"AirAsia will have a great 2015, proving many sceptics wrong," Fernandes said.

News reports in the Philippines quoted AirAsia's 49%-owned, Philippines-based AirAsia Zest's chief as saying listing of the unit could happen in 2016.

According to the Philippine Daily Inquirer, AirAsia Zest CEO Joy Caneba said the listing was to raise funds to finance the unit's expansion.
 
Caneba had yesterday confirmed that the proposed IPO was discussed in a meeting last week.

“Performance has improved, and we are gearing toward listing. The likelihood is next year as there are so many activities that need to be undertaken for an IPO,” Caneba was quoted as saying. He did not elaborate.

Budget airline AirAsia Group (fundamental: 0.2; valuation: 0.6) IPOs  are being planned as financials improved amid cheaper crude oil prices.

In Malaysia, AirAsia shares fell one sen or 0.4% at 10:50am to RM2.27 for a market capitalisation of RM6.32 billion.

The stock had fallen 17% this year, underperforming the FBM KLCI's 2% rise.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

      Print
      Text Size
      Share