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null AirAsia proposes two-for-six rights issue of convertible Islamic debt securities to raise up to RM1.02b

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AirAsia proposes two-for-six rights issue of convertible Islamic debt securities to raise up to RM1.02b

13 Jul 2021 | Tuesday Source: The Edge Markets

AirAsia Group Bhd is making a cash call to its shareholders to raise up to RM1.02 billion to recapitalise the low-cost carrier that is hard hit by the Covid-19 pandemic, like its peers in the aviation industry. 

The airline is offering existing shareholders the right to buy two redeemable convertible unsecured Islamic debt securities (RCUIDS), with one free detachable warrant, for every six AirAsia shares currently held. Each RCUIDS will be priced at a nominal value of 75 sen apiece.

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