flee 5 Report post Posted September 18, 2015 KUALA LUMPUR (Sept 18): AirAsia Bhd ( Valuation: 1.20, Fundamental: 0.20) is proposing to purchase up to 10% of its issued and paid-up share capital, and will be seeking the approval of its shareholders at an extraordinary general meeting (EGM) to be convened. According to its filing with Bursa Malaysia today, AirAsia said that a similar mandate was approved by its shareholders on June 4 last year, and the approval has since expired on June 3, 2015. "However, the company did not make any purchase of its own ordinary share(s) of 10 sen each," said AirAsia. The proposed share buy-back would be effective immediately upon the passing of the ordinary resolution at the EGM, and shall be valid until the conclusion of the next annual general meeting (AGM) of the company, or the expiration of the period within which the next AGM of the company is required by law to be held, whichever is earlier. More: http://www.theedgemarkets.com/my/article/airasia-proposes-share-buy-back-plan Share this post Link to post Share on other sites
flee 5 Report post Posted October 6, 2015 AirAsia sounding out investors to take company private Founders of Asia's No.1 budget carrier AirAsia Bhd are sounding out investors to take the company private in a management-led buyout, after its shares took a beating this year following a critical research report, people familiar with the matter said. AirAsia boss Tony Fernandes and his long-time business partner Kamarudin Meranun are working with banks to secure financing for the transaction, which could be launched over the next few months, said the people, who did not want to be identified as the discussions are confidential. Obtaining financing will be key for the deal to succeed, the people said. An AirAsia spokeswoman had no immediate comment when contacted by Reuters. The airline's market value has fallen 40 percent to 3.51 billion ringgit ($803 million) since Hong Kong-based GMT Research questioned AirAsia's accounts in a report in June. The report came as AirAsia was under pressure to turn around its loss-making affiliates and was being squeezed by industry overcapacity in a low-margin business. Group CEO Fernandes, who has led the airline's rise from a two-plane operation in 2002 to a billion-dollar business, has steadfastly defended the company's finances and outlook and said the market was undervaluing it. Tune Air, jointly owned by Fernandes and Meranun, owns about 19 percent of AirAsia. The plan to take the airline private comes a decade after it was listed on the Kuala Lumpur stock exchange priced at 1.25 ringgit for institutional investors, around where it was trading on Tuesday. ($1 = 4.3710 ringgit) (Reporting by Anshuman Daga and Saeed Azhar; Additional reporting by Yantoultra Ngui in KUALA LUMPUR; Editing by Lisa Jucca and Alex Richardson) Source: http://www.reuters.com/article/2015/10/06/us-airasia-management-exclusive-idUSKCN0S00TL20151006 Share this post Link to post Share on other sites
flee 5 Report post Posted October 8, 2015 AirAsia's potential management-led buyout faces headwinds http://www.reuters.com/article/2015/10/07/us-airasia-stocks-idUSKCN0S102Z20151007 Share this post Link to post Share on other sites
KK Lee 5 Report post Posted October 8, 2015 AK need load of funding for aircraft purchase, financial institution is traditionally shy to lend multi millions $ to private limited. This "management buyout" is more to talk up beaten down shares price. Share this post Link to post Share on other sites
BC Tam 2 Report post Posted October 30, 2015 AirAsia boss begins buyout talks as share fall puts loans at riskhttp://www.themalaysianinsider.com/malaysia/article/airasia-boss-begins-buyout-talks-as-share-fall-puts-loans-at-risk#sthash.AnVXgT51.dpuf More details being leaked out it seem Share this post Link to post Share on other sites
KK Lee 5 Report post Posted November 3, 2015 It is common for those PLC majority shareholders that pledged their shares to banks to pop up the shares price to avoid sell off by banks. Share this post Link to post Share on other sites
BC Tam 2 Report post Posted November 3, 2015 (edited) Yup, nothing like a good cuppa to pick one up AirAsia shares up on news of coffee venturehttp://www.themalaysianinsider.com/business/article/airasia-shares-up-on-news-of-coffee-venture Edited November 3, 2015 by BC Tam Share this post Link to post Share on other sites
