Article in the Business Times:
"The listing date of AirAsia X, the long-haul affiliate of Asia's largest low-cost carrier AirAsia Bhd, is uncertain now amid rumours that it could be delayed. AirAsia X chief executive officer Azran Osman-Rani is keeping mum on any new timeline for its initial public offering (IPO). "Let's see Tune Ins first," Azran said, when contacted by Business Times yesterday to comment on a Wall Street Journal report that the IPO could be delayed because of the coming general elections."
I wrote before about Air Asia X in this posting, I was not exactly very impressed, by Air Asia nor by its prospectus.
In the mean time Air Asia X has audited its 2012 year result. I definitely hope the numbers are better than the previous years, since its operational results (excluding foreign exchange gains and deferred tax assets) have been strongly negative.
I wrote: "Quite amazing that a company with such a poor track record would be allowed to
be listed on Bursa Malaysia."
From the Business Times article:
If the company raises RM 760 million from the sale of 790 million shares, then the price per share is RM 0.97, or not?
"This is the time to be cautious since everyone expects the market to fall. Once the market stabilises, then it would be all right for a company to be listed," he said.
If I learned one thing in 20 years investing, then it is that there is no such thing as a sure thing. If everyone expects something, then often the opposite happens.
PS: KiniBiz is launched, first impression is good.