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AirAsia’s digital business seeking US public listing via SPAC
Low-cost airline AirAsia Group’s digital division is mulling a US listing via a special-purpose acquisition company (SPAC).
It is aiming to raise about $300million in the IPO.
CEO Tony Fernandes said some a few tech-focused SPAC businesses have approached the group.
AirAsia has instructed auditors to explore a potential deal.
"We have now recruited our auditors to start preparing for an American listing, so that’s very much on the table," he told Reuters.
The SPAC route offers a quicker and often cheaper way to a public listing, which has found favour with tech focused companies in the past couple of years.
The company’s digital arm covers non-aviation travel and lifestyle services, logistics and fintech.
The group is also in talks with private equity businesses in Asia and is close to agreeing a US$1 billion loan with a US firm.
AirAsia also announced a deal to buy Indonesian ride-hailing firm Gojek’s Thailand business in a stock swap transaction, valuing the deal at US$50 million.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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