AirAsia may raise $263m via IPO

AirAsia may raise $263m via IPO

KUALA LUMPUR: Malaysia's ambitious budget carrier AirAsia is expected to raise as much as one billion ringgit (US$263 million) in its initial public offering (IPO) due in November, industry sources said on Friday.

"It could be about one billion ringgit, making it the biggest share sale this year in Malaysia," a source familiar with the listing exercise told AFP.

"The share offering is likely to happen in the middle of November," the source added.

The Foreign Investment Committee has approved the IPO and the airline is now awaiting final approval from the Securities Commission and its management board. --AFP