Tuesday, September 20, 2011

AirAsia's Thai unit IPO on track

KUALA LUMPUR: AIRASIA BHD [] said its Thai unit's initial public offering is on track to take place in the fourth quarter.

CIMB Securities (Thailand), which is advising on the US$200 million IPO, had said on Monday, Sept 19 that the listing was delayed as the airline needed more time to restructure and conduct due diligence.

"AirAsia Group would like to state and confirm that the newsflow is incorrect and that the IPO is still scheduled for 4Q11 listing," a spokesperson for the airline said in a statement on Tuesday.

Earlier this year, Thai AirAsia said it planned to use the proceeds from the IPO to repay debt and to replenish cash reserves. - Reuters


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