Capital A has been classified as a distressed company by the Malaysian government in 2021 although the company has asked Bursa Malaysia to lift its classification in July this year.
Malaysian entrepreneur Tony Fernandes is planning to raise over US$1 billion in debt and equity for his Capital A conglomerate (formerly AirAsia). He is also preparing to list some of its businesses through a special purpose acquisition company (spac) or a blank-cheque company in New York, according to an article in the Financial Times.
Fernandes was said to have struck a deal with Nasdaq-listed spac Aetherium Acquisition. He is also said to list several businesses – including a new business extending the AirAsia brand – through Aetherium in 2024, according to the paper’s sources.
