AirAsia X eyes Malaysia IPO in first half 2013

AirAsia X, the long-haul business of Malaysian budget airline AirAsia, plans to offer up to 790.1 million shares in its initial public offering and use the proceeds for capital expenditure and the repayment of bank borrowings, the airline said in a draft prospectus issued late last week.

Although details may change as the process is still at an early stage, the deal size is currently expected to be about $250 million, sources said yesterday. AirAsia X is aiming to list in Kuala Lumpur sometime during the first half of next year, according to one source.

The move comes after Asia Aviation, the holding company...