Low-cost airline AirAsia gearing up for a stock market debut within the next 12 months while Danish logistics giant A.P. Moller is acquiring an up to 40% stake in AC Logistics.
AirAsia Philippines gears up for IPO
Budget airline AirAsia Philippines is preparing for a stock market debut within the next 12 months to raise capital for fleet expansion, parent company Capital A CEO Tony Fernandes said.
In an online briefing, Fernandes said the low-cost airline will sell 20% to 30% of its shares on the Philippine Stock Exchange (PSE) through an initial public offering (IPO) or a backdoor listing.
“We’ve been talking about listing in the Philippines for a while. Now that we own 100% of the company, we are in a much clearer state,” Fernandes said in an online briefing.
AirAsia Philippines first announced plans to go public in 2015 but delayed the move multiple times due to business expansion and regulatory approvals. Most recently, in December 2023, Capital A reaffirmed its commitment to listing the airline.
Fernandes did not disclose the target capital raise but said proceeds would fund aircraft acquisition. The airline expects three to four new Airbus A321neos in 2025 and additional A321LRs in 2026.
The airline started operations in the Philippines in 2012.
A.P. Moller Capital acquires 40% stake in AC Logistics
A.P. Moller Capital, the asset management unit of Danish transportation and logistics giant A.P. Moller Group, has agreed to acquire a 40% stake in AC Logistics, a wholly owned subsidiary of Ayala Corporation.
A.P. Moller Capital, through EMIF II Holding III B.V., will acquire the stake in AC Logistics under a share subscription agreement, subject to the final subscription price and the fulfillment of several conditions.
A.P. Moller and Ayala Corporation said the deal is part of a plan to expand the company into a leading integrated logistics provider in the Philippines.
AC Logistics, founded in 2021, provides supply chain solutions, including cold chain, freight forwarding, national distribution, and contract logistics
The company operates a nationwide network of distribution centers and has access to a fleet of transportation assets, including temperature-controlled trucks and an extensive network of agents.
