Malaysia's AirAsia suspends trading amid reports of going private

Malaysian budget airline AirAsia said on Thursday that it will suspend trading of its stock on the bourse pending an announcement, a day after denying reports that its founders were planning to take the company into private ownership

Reuters| Last Updated: Mar 31, 2016, 18:33 PM IST
Malaysia's AirAsia suspends trading amid reports of going private

Kuala Lumpur: Malaysian budget airline AirAsia said on Thursday that it will suspend trading of its stock on the bourse pending an announcement, a day after denying reports that its founders were planning to take the company into private ownership.

AirAsia`s shares would be suspended from 0100 GMT on April 1 pending a "material announcement", it said in the bourse filing.

Trading in structured warrants will also be suspended.

AirAsia said in a statement on Wednesday that the airline was not considering going private at this stage, after local media reports said founders Tony Fernandes and Kamaruddin Meranun would do so with a company under state-owned China Everbright Bank Co.

Reuters reported in October that AirAsia founders are sounding out investors to take the company private in a management-led buyout.