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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.
PETALING JAYA: Stanley Choi’s increased stake in low-cost carrier AirAsia Group Bhd is no ordinary bet but one where he has factored in calculated risks just like he would in any of his poker games.
The professional poker player and investor from Hong Kong started looking at the aviation industry when it bottomed out between June and July last year and just as how Covid-19 was an unprecedented pandemic, Choi viewed it as an investment opportunity of a lifetime.
And as he hunted for companies to invest in, he realised that AirAsia appealed to him the most in terms of its fundamentals and management style.
BETWEEN Feb 22 and 26, notable shareholding changes at companies listed on Bursa Malaysia included those at
AirAsia Group Bhd, where Hong Kong-based investor Dr Stanley Choi emerged as a substantial shareholder.
Choi, an expert in mergers and acquisitions and one of the founders of private equity fund Yunfeng Capital, subscribed for 167.1 million AirAsia shares or 4.5% of the group’s share base on Feb 18. This increased his stake in the airline to 8.96%.
Choi’s subscription was part of a private placement exercise that AirAsia has embarked on to raise RM454.5 million through the issuance of 668.39 million new shares. The sum indicates a price of 68 sen per share.
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