AirAsia-owner Capital A plans Hong Kong listing to access global capital
From Yahoo Finance: 2025-05-01 23:55:00
Malaysia’s Capital A, owner of budget carrier AirAsia, eyes a Hong Kong stock exchange listing to access global capital post-financial distress. Shareholders must approve the plan to exit the status, aiming for mid-2025. The potential listing would allow tapping into Mainland Chinese investor pools as Hong Kong markets revive.
The company, hit by pandemic restrictions, expects profitability this year after a 2024 loss. CEO Tony Fernandes aims to sell AirAsia aviation business to AirAsia X to consolidate operations under one brand. Shares rose 5.7% to 0.84 ringgit per share. A shareholder meeting is set for May 7.
Capital A reaffirms confidence in completing its proposed restructuring plan by June 2025 despite auditors noting uncertainty about the company’s going concern. The plan for a Hong Kong listing is seen as the “natural next step” to access global and Chinese investor pools. Discussions ongoing with international investment banks for advice.