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AirAsia Group raises $82m from TPG execs, Aimia, others in private share placement
Visual from the company website
March 17, 2021
AirAsia Group Bhd has raised $82 million from TPG Capital executives, Aimia Inc., and others through a private share placement, the Malaysian budget airline said on Wednesday as it looks to ensure liquidity in 2021.
The airline raised 336.46 million ringgit ($81.70 million) over two tranches by issuing 470.21 million new shares, representing 14.07% of the group’s total issued shares.
The airline said investment firm TPG Capital’s founder and chairman David Bonderman and TPG Asia partners, including Tim Dattels, Ganen Sarbananthan and Zubin Irani, have invested in their personal capacity.
By Reuters Staff
(Adds details on airline’s fundraise plan)
KUALA LUMPUR, March 17 (Reuters) - AirAsia Group Bhd has raised $82 million from TPG Capital executives, Aimia Inc and others through a private share placement, the Malaysian budget airline said on Wednesday as it looks to ensure liquidity in 2021.
The airline raised 336.46 million ringgit ($81.70 million) over two tranches by issuing 470.21 million new shares, representing 14.07% of the group’s total issued shares.
The airline said investment firm TPG Capital’s founder and chairman David Bonderman and TPG Asia Partners, including Tim Dattels, Ganen Sarbananthan and Zubin Irani, have invested in their personal capacity.
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KUALA LUMPUR (Reuters) - AirAsia Group Bhd has raised $82 million from TPG Capital executives, Aimia Inc and others through a private share placement, the Malaysian budget airline said on Wednesday as it looks to ensure liquidity in 2021.
The airline raised 336.46 million ringgit ($81.70 million) over two tranches by issuing 470.21 million new shares, representing 14.07% of the group s total issued shares.
The airline said investment firm TPG Capital s founder and chairman David Bonderman and TPG Asia Partners, including Tim Dattels, Ganen Sarbananthan and Zubin Irani, have invested in their personal capacity.
Hong Kong businessman Stanley Choi, chairman at Head & Shoulders Financial Group and executive director at International Entertainment Corporation, also participated.
KUALA LUMPUR (March 17): AirAsia Group Bhd has completed its private share placement exercise, with the culmination of the second tranche today that resulted in an additional 100.37 million new shares issued, representing approximately 3% of the low-cost carrier s total issued shares at an issue price of 86.5 sen each.
In a statement this morning, the carrier said this follows the initial tranche of 11.07% or 369.85 million shares issued at 67.5 sen on Feb 19 that saw the emergence of Hong Kong-based investor Dr Stanley Choi Chiu Fai as a substantial shareholder after upping his share position to 8.96% from less than 5% previously.
AirAsia said in total, both tranches delivered 470.21 million new shares issued under the private placement exercise, representing 14.07% of its issued shares and raising a total of RM336.46 million.