The battle between the two is akin to a soap opera that has been running for years, and this, some say, could be season 4 or 5. What made Fernandes(pic) fume over the weekend was an article quoting MAHB boss Datuk Badlisham Ghazali as saying that the airport operator had invested RM4bil on KL International Airport 2 (KLIA2), but that there has been no corresponding increase in the passenger service charge (PSC).
KUALA LUMPUR: Low-cost carrier AirAsia Bhd plans to raise RM1bil from the issuance of new shares to the founders Tan Sri Anthony Fernandes and Datuk Kamarudin Meranun.
It said on Friday it would place out 559 million new shares at an issue price of RM1.84 per share to Tune Live Sdn Bhd, which is owned by Fernandes and Kamarudin.
AirAsia said the subscription shares account for 16.7% of its enlarged issued and paid-up share capital and are to be issued at RM1.84 each to be satisfied in cash.
The issue price of RM1.84 per subscription share was based on the five-market day VWAP of the shares up to March 31, 2016.
As at March 28, 2016, the major shareholders, Fernandes and Kamarudin hold directly and indirectly a total of 18.9% in AirAsia and are also directors and substantial shareholders of Tune Live.
AirAsia said 34% of the RM1bil or RM342mil would be used to pre-pay unsecured term loan facilities and repay unsecured revolving credit.
Another RM275mil or 27.3% would be for the aircraft, spare engines and other aircraft parts and associated pre-delivery payments.
It said RM103.82mil would be used for the construction and development of its headquarters and
As for general corporate and working capital, it plans to allocate RM283.98mil or 28.2%.
Subscribe or renew your subscriptions to win prizes worth up to RM68,000!
