"AirAsia X may be listed after elections"

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?

And finally:

"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.