Update AirAsia X gets only 10% of air passengers in retail portion to take up IPO offer

by **Cals** Mon 17 Jun 2013, 18:40

Update AirAsia X gets only 10% of air passengers in retail portion to take up IPO offer

Business & Markets 2013

Written by Cynthia Blemin of theedgemalaysia.com

Monday, 17 June 2013 16:44

KUALA LUMPUR (June 17): Only 10% of the blue forms for the retail portion (meant for eligible air passengers) for AirAsia X Bhd’s IPO have been taken up, said a banker familiar with the exercise.

This effectively means that this retail portion of the IPO is under-subscribed by 90%. The other two retail portions cover the public and bumiputras.

This development provides “a second chance” for those who want to own the shares but are unable to due to the overwhelming response for the public and bumiputera portions, added the banker who spoke to the Edge.

The blue forms for some 50 million shares are meant for those who have flown with the airline over the past 24 months prior to the prospectus launch on June 10, and those who are also classified as “BIG shot” in the loyalty programme having earned points with their flights.

AirAsia X is offering up to 790.12 million shares in the IPO, and depending if the “green-shoe option” is exercised, it plans to raise between RM1.1 billion to RM1.3 billion to fund its expansion and pay off debts.

The long-haul affiliate of the AIRASIA BHD [] is offering a large retail portion, said to be one of the biggest in recent times by Bursa Malaysia. It comprises 252 million shares or 10.6% of its enlarged share capital.

The remaining 538.011 million shares are allocated under the institutional offering.

by **Cals** Tue 18 Jun 2013, 01:12

Update 1 AirAsia X working hard to improve IPO subscription for "BIG" passengers

Business & Markets 2013

Written by theedgemalaysia.com

Monday, 17 June 2013 21:30

KUALA LUMPUR (June 17): All parties involved in the IPO of AirAsia X are "working very hard" to ensure that selected air passengers are aware that they are eligible to apply for the IPO blue forms.

Theedgemalaysia.com reported earlier today that about 10% of blue forms in the retail portion (meant for eligible air passengers) for the IPO have been taken up.

This effectively means that this retail portion of the IPO is heavily under-subscribed as of today. The other two retail portions cover the public and employees.

The actual subscription rate can only be determined after the closing on Wednesday, June 19, at 5.00 PM.

"Since this morning, there have been concerted efforts by all parties involved in the AAX's IPO to create awareness and improve subscription in this segment. We have seen encouraging response," said a professional involved in the deal.

Subscribing to the "blue form" tranche enables one to have a good chance of getting shares in AAX as well as benefit from the inaugural incentive scheme, he added.

"Unlike any other IPOs which normally have only the white and pink forms, AAX decided to have a new category carved out, namely the blue forms to reward the people (namely BIG cardholders) who had supported the group in the past.

"The blue form category is also eligible for the AAX inaugural benefit like the white form applicants," said the professional.

According to him, interest has been very strong for both the pink (employees) and white (public) portions. For this reason, AAX is expecting a balloting in white forms.

The blue forms for some 50 million shares are meant for those who have flown with the airline over the past 24 months prior to the prospectus launch on June 10, and those who are also classified as "BIG" in the airline's loyalty programme.

AirAsia X is offering up to 790.12 million shares in the IPO and it plans to raise between RM1.1 billion to RM1.3 billion to fund its expansion, pay off debts and for general working capital.

The long-haul affiliate of AIRASIA BHD [] is offering a large retail portion, said to be one of the biggest in recent times by local standard.

Update AirAsia X gets only 10% of air passengers in retail portion to take up IPO offer

Update AirAsia X gets only 10% of air passengers in retail portion to take up IPO offer

Re: Update AirAsia X gets only 10% of air passengers in retail portion to take up IPO offer