Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  BURSA MALAYSIA  >  AirAsia Berhad    AIRA   MYL5099OO006

SummaryNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

AirAsia Berhad : AirAsia X Likely to Delay $250 Million IPO Until After Malaysia Polls -Sources

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/15/2013 | 11:21am CET
   By Abhrajit Gangopadhyay 
 

KUALA LUMPUR--AirAsia X Bhd., the long-haul arm of Southeast Asia's largest budget carrier by fleet size, is likely to delay a planned $250 million initial public offering in Malaysia until after general elections are held, two people familiar with the process said Friday.

AirAsia X, a unit of AirAsia Bhd. (5099.KU), had planned to list by March, one of the people said. "The elections will likely cause a slight delay," the person said.

Investors in Malaysia's equity markets often turn jittery before and immediately after general elections. In 2008, the 30-share benchmark Kuala Lumpur Composite Index tumbled nearly 10% on the first day of trading after the National Front coalition, which has ruled Malaysia since independence in 1957, lost its two-thirds majority in Parliament for the first time.

"It is smart to let the election risk pass, so that investors can take better-informed decisions," the second person said.

Malaysia's general elections are required by law to be held by June 27, but are widely expected to take place earlier.

State-run news agency Bernama on Thursday quoted Prime Minister Najib Razak as saying Parliament could be dissolved "very, very soon."

Last year was a banner year for IPOs in Malaysia, which vaulted to fifth place globally by deal value. It is expected to struggle to retain that ranking this year, but a number of big-ticket deals, such as power producer Malakoff Corp Bhd.'s planned $1 billion IPO, will help keep the country in the deals headlines.

In any case, it looks to be a busy market year for AirAsia. Chief Executive Tony Fernandes told The Wall Street Journal last month that the group hopes to list Indonesia AirAsia, in which it holds 49%, on the Jakarta stock exchange in the third quarter.

AirAsia X still plans to sell up to 790 million shares--equivalent to a one-third stake--in its IPO, one of the people said.

According to the draft prospectus, 685.6 million shares were to be allotted to institutional investors and 104.4 million shares to retail investors.

More than half of IPO proceeds will be used to repay bank loans, while around a fifth will fund capital expenditure, including the purchase of equipment and spare parts for aircraft, the prospectus said.

The company hasn't disclosed the pricing, the size or the listing timeframe of the proposed IPO.

AirAsia X owns a fleet of nine Airbus A330-300s for scheduled services and has two A340-300s for wet-lease and charter operations flying to 12 destinations across Asia and the Middle East.

The company has appointed CIMB Investment Bank as its principal adviser to the IPO. Maybank Investment Bank, CIMB and Credit Suisse are the joint global coordinators.

-Write to Abhrajit Gangopadhyay at abhrajit.gangopadhyay@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on AIRASIA BERHAD
02/25 AIRASIA BERHAD : Odisha to formulate Southeast Asia tourism policy
02/25 AIRASIA BERHAD : presses ASEAN to loosen ownership hurdles
02/24 OWNERSHIP AND CONTROL OF AIRASIA WIT : Dgca to high court
02/23DJAIRASIA BERHAD : 4th-Quarter Net Profit MYR465.3 Million Vs MYR554.1 Million Yea..
02/21 Domestic airlines carry 25% more passengers in jan 2017
02/20 AIRASIA BERHAD : Appoints Isitup.com to track and optimise fixed assets
02/20 AIRASIA BERHAD : First foreign airline AirAsia lands at Srinagar airport
02/18 AIRASIA BERHAD : offers special 50-hour flash sale to all ASEAN destinations
02/13 MAURITIUS : AirAsia suspends services to Mauritius
02/10 AIRASIA BERHAD : DGCA gives clean chit to Air Asia India
More news
Sector news : Airlines - NEC
01:47p Ryanair steps up Frankfurt expansion
02/24 FTSE posts first weekly loss in a month on weak banks and miners
02/24 BA owner IAG reports profit rise, share buyback
02/24 IAG eyes A321LR order for Aer Lingus, transatlantic routes
02/23 Buffett expected to tout passive investing in Berkshire annual letter
More sector news : Airlines - NEC
News from SeekingAlpha
2016 AIRASIA : Great Company, Bad Industry
2016 AirAsia to launch sale of stake in leasing arm
2016 Latest at the Farnborough Airshow
2016 Which Asian Airlines Might Be Interested To Buy Into Virgin America?
2016 ASIA FRONTIER CAPITAL : 2016 Outlook
Advertisement
Financials ( MYR)
Sales 2017 6 951 M
EBIT 2017 1 616 M
Net income 2017 1 309 M
Debt 2017 7 488 M
Yield 2017 3,20%
P/E ratio 2017 6,99
P/E ratio 2018 7,21
EV / Sales 2017 2,34x
EV / Sales 2018 2,18x
Capitalization 8 756 M
More Financials
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 3,32  MYR
Spread / Average Target 27%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Aireen Omar Chief Executive Officer & Executive Director
Bo Lingam President & Group Chief Operating Officer
Kamarudin bin Meranu Non-Independent Executive Chairman
Kim Lian How Chief Financial Officer
Kin Choy Lau Group Head-Information & Communication Technology
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
AIRASIA BERHAD1 970
DELTA AIR LINES, INC.2.58%37 775
UNITED CONTINENTAL HOL..3.02%23 685
RYANAIR HOLDINGS PLC-3.12%18 054
INTERNATIONAL CONSOLID..18.85%13 899
AIR CHINA LTD.12.08%13 291
More Results