AirAsia Group and Expedia formed the JV, AAE Travel Pte Ltd in 2011, in which Expedia held 75 per cent stake since 2015.
New Prime Minister Mahathir Mohamad is keen to make the fund leaner and use sale proceeds to cut massive debt piled up in the 1MDB scandal.
IPOs & Markets
The flamboyant CEO, who co-founded AirAsia in 2001 with two aircraft, announced plans for an IPO for the India unit in January.
The company is majority owned by the founding Lau family. Private equity firm Affinity Equity Partners has owned a 23% stake in the business since 201
Khazanah paid the government 1.2 billion ringgit ($301.05 million) in mid-2017 in exchange for redeemable shares owned by the finance ministry. These
The listing would be the largest IPO in Malaysia since Lotte Chemical Titan's $878-million listing last year.
Etiqa, its insurance unit which operates in Malaysia, Singapore, the Philippines and Indonesia, is said to be worth at least $1 billion.
The sale raises approximately $902 million of cash proceeds and gives AirAsia's unit, Asia Aviation Capital Ltd, an enterprise value of $2.85 billion.
The project, valued at about $17 billion by analysts, is the biggest undertaken by Malaysia and Singapore in recent years.
Alibaba Cloud plans to make live traffic predictions and recommendations by crunching data gathered from video footage, traffic bureaus, public transp
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