AirAsia’s Fernandes plans triple IPO in 2013

Malaysian tycoon Tony Fernandes plans to raise up to US$550 million by listing shares in the long-haul arm and Indonesian unit of AirAsia as well as in his insurance firm, a source said Thursday.

The plan comes as Fernandes tries to tap the Kuala Lumpur exchange’s popularity as a centre to launch initial public offerings, which has seen it rise to fourth globally despite the global slowdown.

via Business feed http://www.scmp.com/business/companies/article/1058653/airasias-fernandes-plans-triple-ipo-2013