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 are also convertible to one new AirAsia share on a one-to-one basis, according to the filing to Bursa Malaysia. As of June 29, AirAsia has 3.898 billion issued shares, the company said. It has yet to issue the remaining 198.18 million new shares under its proposed private placement in February, it added. Shares of AirAsia closed at 88.5 sen, valuing the airline at RM3.43 billion.

Source: The Edge Markets July 12, 2021 12:56 UTC