AirAsia shares suspended pending material announcement

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KUALA LUMPUR (March 31): AirAsia Bhd shares, which saw active trading over the past one month, will be suspended from trading tomorrow, pending a material announcement.  

The budget airline said the suspension, with effect from 9 am tomorrow, is at the company’s request.

"Accordingly, trading in structured warrants relating to AirAsia will also be suspended at the same time," it added in a filing with Bursa Malaysia, after trading hours today.

Yesterday (March 30), AirAsia had denied a news report that its founders were seeking to privatise the low-cost carrier.

"The founders and Tune Air indicated that they are not considering a privatisation at this stage," it said.

On Monday (March 28), The Edge Weekly reported that AirAsia founders Tan Sri Tony Fernandes and Datuk Kamaruddin Meranun, who collectively control 18.87% of the airline through Tune Air, were in talks with Shanghai-listed China Everbright Bank Co Ltd to privatise the airline.

AirAsia said it made due enquiries with all the airline's directors, and thar they are not aware of the reason for the news report.  

Shares in AirAsia closed unchanged today at RM1.83, with 34.28 million shares traded, making it the fifth most active counter on the exchange.  

At RM1.83, the company had a market capitalisation of RM4.93 billion.