AirAsia Bhd shareholders approve listing status transfer to AirAsia Group Bhd
Last updated on 8 January 2018 - 01:11pm
SEPANG: Shareholders of AirAsia Bhd (AAB) have approved the proposed assumption of the listing status of AAB by AirAsia Group Bhd (AAGB) at its EGM this morning.
The proposed internal reorganisation is expected to be completed by March.
Under the newly established corporate structure, the management will have the flexibility to further streamline the group structure and businesses/operations; and segregate the listed entity from the current Malaysian airline business as well as the group's investments.
Shareholders also approved the proposed exchange of the entire issued share capital of AAB, with new ordinary shares in AAGB, on the basis of one new AAGB share for every one existing AAB share held.
At the noon break, AAB shares fell 1 sen or 0.3% to RM3.58 on some 4.22 million shares done.