Tony Fernandes’s Capital A to raise over US$1bil in debt, equity

Tony Fernandes’s Capital A to raise over US$1bil in debt, equity

Capital A CEO has agreed to a deal with Nasdaq-listed Aetherium Acquisition to list several businesses through it next year.

Tony Fernandes says Capital A is planning to raise more than US$1 billion (RM4.78 billion) in debt and equity, says the Financial Times. (Bernama pic)
PETALING JAYA:
Capital A Bhd, the parent of AirAsia, is planning to raise more than US$1 billion (RM4.78 billion) in debt and equity, and will list some of its businesses through a blank-cheque company, the Financial Times (FT) reported on Wednesday.

Capital A CEO Tony Fernandes has agreed to a deal with Aetherium Acquisition, a Nasdaq-listed special purpose acquisition company (SPAC), and plans to list several businesses through it next year, UK-based FT reported, citing two people familiar with the deal.

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 US listing after it was hit by pandemic travel restrictions in Asia, leading Bursa Malaysia Securities to classify it as a Practice Note 17 (PN17), or financially distressed, company last year.

The potential fundraising also includes a US$150 million loan (RM716.9 million) from Bangkok Bank this month, FT said.

Capital A and Aetherium Acquisition did not immediately respond to Reuters’ requests for comment.

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