Philippine AirAsia to raise US$250m via IPO

MANILA: Philippine AirAsia , the local unit of Southeast Asia’s biggest budget airline, plans to raise up to US$250mil through an initial public offering, according to the underwriter handling the deal, according to Manila Times.

“We are still reviewing the numbers and structuring the issue that could go up to $250 million,” BDO Capital and Investments Corp. president Eduardo Francisco said in a text message over the weekend, the newspaper said.

“Timetable is not yet clear as we still… have to clear with the regulators,” he added.

Given the size of the deal, Francisco said the Philippine Airasia IPO would target both foreign and local investors.

Philippine Airasia earlier said it planned to conduct the share sale in the second half of 2017.