AirAsia to place shares

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Malaysian low cost carrier AirAsia plans to place shares amounting to 20% of its issued and paid-up share capital.

In a brief announcement to Bursa Malaysia, Malaysia's stock exchange, the airline says it plans to issue new shares, equivalent to 20% of its issued and paid-up capital.

Further details will be made available upon appointment of the proposed agents, it adds.

AirAsia currently has over 100 Airbus A320s on firm order and is now working to get financing for some of these.