AirAsia shares flat on transfer listing approval

PETALING JAYA: AirAsia Bhd's (AAB) share price remained flat this morning, after announcing that Bursa Malaysia Securities has appproved its corporate re-organisation exercise, which will see AirAsia Group Bhd (AAGB) assume its Stock Code, Stock Short Name and ISIN Code.
At 10.54am, the stock stood at RM3.49 with 990,400 shares changing hands. Its market capitalisation stood at RM11.63 billion.
AAB said it had received an approval letter dated Oct 13 from the stock market operator, wherein Bursa approved the admission of AirAsia Group Bhd to the official list, in place of AAB.
In August, AAB said that it will be embarking on two corporate exercises , namely the transfer of its listing to a new investment holding company and the conversion of its perpetual securities investments in PT Indonesia AirAsia (IAA) into Indonesia-listed PT Rimau Multi Putra Pratama TBK (RMPP) new shares.