HONG KONG May 13 Long-haul carrier AirAsia X,
founded by entrepreneur Tony Fernandes, began meeting investors
on Monday to gauge interest for an initial public offering in
Malaysia Worth up to $300 million, according to a term sheet of
the deal seen by Reuters.
The company and its shareholders are offering 790.1 million
shares, with 75 percent of the offering coming from new shares,
according to the terms. The deal is slated to be priced on June
24, with its debut set for July 10.
AirAsia X plans to use 44 percent of the proceeds to repay
bank loans, with another 22 percent set for capital
expenditures, the terms said.
CIMB, Credit Suisse, Maybank
and Morgan Stanley were hired as joint global
coordinators on the IPO.