Malaysia's Capital A eyes HK listing post exiting 'financially distressed' status
MALAYSIA's Capital A said on Friday it is exploring listing on the Hong Kong stock exchange (HKEX) in a bid to diversify its access to global markets.
Capital A, owner of budget airline AirAsia, was hard hit by pandemic travel restrictions and classified by Malaysia's stock exchange as 'PN17', or financially distressed, in 2022.
The potential HKEX listing is seen as a "natural next step" following the firm's ongoing PN17 regularisation plan, it said in a statement, which is targeted for completion by mid 2025.
It expects to return to profitability this year after posting a loss for fiscal year 2024.
"Discussions are ongoing and Capital A is close to appointing an international investment bank to advise on the proposed listing structure and timeline," the firm said.
Capital A said plans to initiate the formal process are subject to internal assessments and regulatory approvals. Reuters Trading ideas: EWI, Vizione, KNM, WTK, Carimin, Reach Ten, Compugates, HCK, Mah Sing, Maybank, LPI Capital, Tasco
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