AirAsia X IPO pricing stated

Institutional investors can bid for AirAsia X stock being made available it an initial public offering for between 1.15 ringgit to 1.45 ringgit, according to the term sheet. The price for individual investors was set at 1.45 ringgit. The airline hopes to raise up to $370 million through the IPO in Malaysia. Proceeds from the IPO will help repay bank borrowings and set up new hubs, says chief executive officer Azran Osman-Rani. The airline is offering 10.6% of its share capital to individual investors and 14.4% to institutions, according to the prospectus.