Bursa Securities approves AAX’s fundraising exercise

Airline says it needs to provide quarterly updates on proposed placement

KUALA LUMPUR – AirAsia X Bhd (AAX) has received Bursa Securities approval for the listing and quotation of 32.26 million new shares to be issued under its proposed placement on Bursa Malaysia’s main market.

The long-haul low-cost airline said it needed to fully comply with the relevant provisions under the listing requirements pertaining to the implementation of the proposed RM50 million fundraising, which is part of its PN17 regularisation plan.

“AAX and AmInvestment Bank must fully comply with the relevant provisions under the listing requirements pertaining to the implementation of the proposed placement,” it said in a filing with Bursa Malaysia today.

Additionally, it said AAX is also required to provide quarterly updates via Bursa Link, simultaneous with the submission of its quarterly report, details on the status of each of the events or purposes for which the total proceeds raised from the proposed placement are utilised and where the balance of proceeds is being placed, pending utilisation.

“If it (balance of proceeds) is parked with an asset management company/fund manager, it (AAX) needs to disclose the name of the asset management company/fund manager,” it added.

– Bernama, June 9, 2023