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Malaysia's AirAsia suspends trading amid reports of going private

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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.

[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.

REUTERS

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