buy buy buy.. dont miss the boat..

Steadily rising :)

http://www.thestar.com.my/business/business-news/2016/04/02/fernandes-kamarudin-to-fork-out-rm1bil-cash/

AirAsia told Bursa Malaysia that it would issue 559 million new shares in a share placement exercise at RM1.80 a share to Tune Life Sdn Bhd, owned equally by both Fernandes and Kamarudin.

This will eventually raise the duo’s direct and indirect stake in the region’s largest low-cost carrier to 32.4% from 18.9% currently. Fernandes is group CEO while Kamarudin the chairman of AirAsia group.

The proceeds from the share sale will be used to reduce debts, pay for aircraft purchases, construct a new building for its headquarters and working capital going forward.

This share placement also pours cold water on market talk on a potential privatisation, at least for now. “AirAsia is our baby and we have been hurt by lack of analysts and shareholder confidence, so we thought we will kill two birds with one stone. Raise the money needed for AirAsia, and show our long-term commitment,’’ Fernandes said in an SMS to StarBizWeek yesterday.