AirAsia, Southeast Asia’s biggest budget carrier, will appoint bankers next week to manage its Indonesian unit’s initial public offering to secure funds for expansion.
Air Asia Indonesia plans to raise funds so it can buy its own planes, which will help pare the debt to equity ratios the parent company’s in Malaysia.
The Jakarta IPO is expected to take place in the fourth quarter. Air Asia also intends to hold an IPO for its Thai unit to help fund growth plans, including a possible order for 175 of Airbus SAS’s revamped A320s.
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