AirAsia to sell off 20 percent of the company

KUALA LUMPUR – AirAsia has confirmed to Reuters that it has seen solid demand for its share issue to raise up to $171.6 million which it will use to reduce its gearing.

The airline plans to place out up to 481.1 million AirAsia shares, representing a 20 percent stake, to buyers to be identified later.

Fernandes told Reuters by telephone the new shares will be priced at a 5-10 percent discount of the market price of AirAsia shares at the time of issue.