12 Dec '11, 10am

AirAsia Indonesia postpones IPO until next year - from @ChannelNewsAsia

AirAsia Indonesia postpones IPO until next year - from @ChannelNewsAsia

JAKARTA: The Indonesian subsidiary of Asia's biggest budget carrier AirAsia will postpone its initial public offering (IPO) until next year due to the global economic slowdown, its spokeswoman said on Monday. The airline in March announced plans for a public listing in the final quarter of this year, hoping to raise up to $200 million. It also named CIMB Securities Indonesia and Credit Suisse Securities Indonesia as its joint-lead underwriters. "The preparation for IPO is going well, but we decided to postpone it due to inconducive global economic conditions," AirAsia Indonesia's corporate communication manager Audrey Petriny told AFP. She was unable to provide details of when the IPO would be launched next year as it would depend on "progress of the global economy". "We want to do the initial public offering at the right time," she said. AirAsia Indonesia currently operat...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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