Maybank Investment Bank Bhd (MIBB) helped prop up AirAsia X's shares by pumping in more than RM20m to defend the shares from falling. The long-haul low-cost carrier, which made its Bursa Malaysia debut on Wednesday, inched one sen higher from its initial public offering price (IPO) of RM1.25/share. The one-sen premium saved the carrier from becoming the worst debutant IPO on the local stock exchange over the past 12 months.
- The bottom position still rests with Malaysia's second special-purpose acquisition company CLIQ Energy Bhd which closed below its IPO price of 62.5 sen in April this year. Prior to the share sale, AirAsia X had hired MIBB, a unit of the country's top bank Malayan Banking Bhd, to act as market stabiliser. (BT)
Source: CIMB Daybreak - 12 July 2013