The exercise is expected to raise gross proceeds of between RM615.9mil and RM1.024bil, AirAsia said in a filing with Bursa Malaysia yesterday. has proposed to undertake a renounceable rights issue of up to RM1.024bil in nominal value of seven-year redeemable convertible unsecured Islamic debt securities with a nominal value of RM0.75 each .
The exercise is expected to raise gross proceeds of between RM615.9mil and RM1.024bil, it said in a filing with Bursa Malaysia yesterday. “The proposed rights issue is undertaken in response to a series of unexpected events outside the group’s control, primarily attributed to the outbreak of the global Covid-19 pandemic which has created significant challenges for the airline industry.
Burning cash
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