Shifting markets lead to AirAsia X IPO going off at low end of range

AirAsia X has raised M$987.7m (US$310m) from its Malaysian initial public offering (IPO) after fixing the price near the bottom of the indicative range. The deal exceeds Cliq Energy’s $118m offering in April as the biggest IPO in Malaysia so far in 2013. The airline IPO attracted strong demand and was in the end oversubscribed mainly through Malaysian domestic institutional interest. Around 70% of the institutional tranche went to local investors, with the rest allocated to international investors. The bookbuilding was expected to continue until today but the order books were closed last Thursday due to strong demand and market