AirAsia X share pricing values IPO at over $300m

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Malaysian long-haul budget operator AirAsia X's pricing for its initial public offering is set to raise RM987 million ($308 million).

The offering is for 790 million shares of which 538 million are allocated to institutional investors and the other 252 million to retail investors.

AirAsia X says, in a statement to the stock exchange, that the pricing has been fixed at RM1.25 for shares in both tranches.

This values the overall share offer at RM987.6 million.

AirAsia X points out that the final fixed retail price is lower than the original figure of RM1.45 and the difference will be refunded to successful applicants.