Capital A Berhad, the parent of AirAsia, is planning to raise more than $1 billion in debt and equity, and will list some of its businesses through Atherium Acquisition, Reuters reports. The Financial Times initially reported the news.
Capital A CEO Tony Fernandes has agreed to a deal with Aetherium, and plans to list several businesses through it next year. This includes a new business extending the AirAsia brand to companies hoping to start airline franchises in developing countries, the report said.
The group has been evaluating fundraising options for a planned U.S. listing after it was hit by pandemic travel restrictions in Asia, leading Bursa Malaysia Securities to classify it as a PN17 company, or financially distressed, last year.
Asia-focused Atherium raised $116.7 million in a July 2021 IPO to target EdTech companies, although redemptions in the years since have eaten away at the trust, which in May fell below $50 million. Read more.
