Capital A eyes Hong Kong dual listing
CAPITAL A Bhd is exploring a potential dual listing on the Hong Kong Stock Exchange to expand its investor reach and fuel growth across its digital and aviation services.
The move follows engagement with HKEX and reflects the group's strategy to attract investors, especially from Mainland China, who are increasingly interested in Asean-based companies.
Its CEO Tony Fernandes in a press statement today said the listing would amplify Capital A's global story, particularly for non-aviation units like Asia Digital Engineering, Teleport, and AirAsia MOVE.
An international investment bank is set to be appointed to advise on the structure and timeline, pending regulatory and internal approvals.
The announcement comes as Capital A makes strong progress on its PN17 regularisation plan, targeting completion by June 2025.
Milestones include the near-finalisation of a RM1 billion AirAsia X private placement, regulatory clearance from Thailand's SEC, lender approvals, and plans to dispose of its aviation businesses to AAX.
Financial audits for FY2024 have been completed with robust Q1 2025 results.
While the latest audit includes a going concern note, the company attributes it to procedural timing rather than operational weakness.
Looking ahead, Capital A plans to reactivate its full aircraft fleet by July and focus on becoming a leaner, more globally competitive group. –TMR
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