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AirAsia X offers free tickets under IPO

AirAsia X offers free tickets under IPO

AirAsia X offers free tickets under IPO

Tan Sri Tony Fernandes will be on a roadshow to meet retail investors and remisiers across the country in early June for the AirAsia X (AAX) initial public offering, whose shares are likely to be priced at RM1.10 to RM1.30 a share.

The airline is offering a larger retail portion than most companies in recent times, comprising 252 million shares or 10.6% of its enlarged share capital compared to 2%-5% offered by other companies to retail investors.

To lure retail investors to subscribe to the IPO, AAX is dangling a zero fare return air ticket to any destinations flown by the airline to investors that buy 10,000 IPO shares, and three tickets for those who buy 100,000 IPO shares as part of its shareholder benefit programme.

“It was my idea that we should meet retail investors because when I was young and was in England, I saw a lot of retail-based IPOs such as British Gas, British Telecoms and even that of my good friend Sir Richard Branson’s Virgin group. It was for the public.

“Since we have benefited from Malaysians that fly with us, and rather than just the institutional investors benefiting from the IPO, we thought it was good to let Malaysians benefit by offering them free tickets if they subscribe to the shares,” AAX director Fernandes told StarBiz yesterday.

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