Pillsbury Winthrop Shaw Pittman and Allen & Overy were lead advisers on the $310 million BursaMalaysia initial public offering of long-haul budget airline AirAsia X.
A subsidiary of Kuala Lumpur-based AirAsia Bhd., AirAsia X entered the public market in order to help finance the expansion of its fleet and set up new hubs. The remainder of the funds raised will be used to pay down debt and boost working capital reserves.
While AirAsia flies mainly to Southeast Asian regional destinations, AirAsia X flies to Australia, China, India, Europe and the Middle East.
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