Malaysian low-cost airline company AirAsia Group Bhd announced on Wednesday the upcoming listing of its brand management unit, Capital A Berhad, on the Nasdaq Stock Exchange as the result of a merger with Aetherium Acquisition Corp, a special purpose acquisition company (SPAC).
The new company, called Capital A International, is estimated to be valued at $1.15 billion. However, the completion of the transaction is still pending approval from Aetherium stockholders and the fulfillment of other standard closing requirements.
"We are the first Asean-based brand in the travel sector to adopt this strategy and expand through licensing, leveraging our strong ties to the Asean region," Capital A Berhad CEO Tony Fernandes said. "This listing grants us access to the world's most extensive and liquid capital markets, enhancing the company's international credibility and presence while creating value for our shareholders."
