KUALA LUMPUR, Feb 17 — AirAsia co-founder Tan Sri Tony Fernandes said the airline’s branding arm is nearing a deal for a backdoor listing on Nasdaq later this year that could...
Tan Sri Tony Fernandes said that AirAsia’s strong brand recognition, particularly in the Asean region, could attract other airlines willing to pay to leverage its expertise and name. — Picture by Firdaus Latifand enjoy FREE RM10 & when you sign up using code VERSAMM10 with min.
cash of RM100 today! T&Cs apply.KUALA LUMPUR, Feb 17 — AirAsia co-founder Tan Sri Tony Fernandes said the airline’s branding arm is nearing a deal for a backdoor listing on Nasdaq later this year that could value the new entity at about US$1.5 billion , Bloomberg reported. The transaction would involve merging the branding unit with a US-listed company and could be announced within the next two months, Fernandes said in an interview in Kuala Lumpur on Friday.The plan revives an earlier proposal floated two years ago that did not materialise due to challenges in meeting Nasdaq’s listing requirements, according to Bloomberg. If successful, the listing of the branding unit — known as Next — would mark Fernandes’ first listing outside Malaysia, following the consolidation of his airline businesses under a single entity. Fernandes has previously said he intends to list all of Capital A Bhd’s non-aviation businesses in stages over the coming years. He told Bloomberg that AirAsia’s strong brand recognition, particularly in the Asean region, could attract other airlines willing to pay to leverage its expertise and name.The 61-year-old entrepreneur also said he is negotiating a five-year contract extension for his roles as chief executive officer of Capital A and adviser to AirAsia X Bhd, Bloomberg reported.
Airasia Tony Fernandes Nasdaq Listing Next Branding Unit Capital A Bhd
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