MEDAN: AirAsia Indonesia plans to go public in the fourth quarter this year, its president director, Dharmadi, said here yesterday.
“The company is now processing administrative requirements for the initial public offering (IPO),” Indonesia’s Antara quoted Dhatmadi as saying to newsmen after revealing the company’s plan to open new direct routes from Medan, the capital of North Sumatra to various cities in the country and abroad.
He said the company had plans to float 20 per cent of its shares in the Indonesia Stock Exchange and had already appointed the underwriters for the IPO.
“We hope the IPO will go well.AirAsia’s performance has been good marked by increasing number of its passengers and new planes,” he said.
AirAsia initially planned to conduct the IPO in the first quarter last year but it was delayed as it wanted to acquire Batavia Air.
It was optimistic that its earnings would increase in line with its increasing flights from various regions especially Medan.
“Medan is one of the important hubs for AirAsia,” he said. — Bernama