NEWLY LISTED AIRASIA X CLOSES FLAT AT RM1.25

12 Jul 2013 11:19

(recasting intro, additional info from 2nd to 4th paras)

KUALA LUMPUR, July 10 (Bernama) -- Newly listed AirAsia X Bhd's share price closed flat at RM1.25 after hovering between RM1.25 and RM1.28 throughout the day.

Some analysts said the stock price performance of the long-haul arm of the AirAsia Group was below their expectation.

"I thought it would get more interest. The stock might take more time to be on the investors' radar.

"In the long-term, some investors might wait to see how AirAsia X performs based on their quarterly results," said Mercury Securities Research Head Edmund Tham said.

The budget carrier made its debut at RM1.26 on the Main Market of Bursa Securities, on a one sen premium over its RM1.25 institutional price, with 9.15 million shares traded.

AirAsia X aims to raise up to RM859.3 million from its initial public offering exercise.

The airline now serves 14 destinations across Asia, Australia and the Middle East, with additional flights to commence next month to Busan, South Korea.

It operates a fleet of 12 Airbus A330-300s for scheduled services and has also taken delivery of an additional similar aircraft, slated to start flying next month.

The carrier will also receive 22 additional A330-300 aircraft for the remainder of this year till 2017, with a firm order for 10 A350-900 aircraft beyond that.

-- BERNAMA

MI MI TOM