AirAsia unit heads for U.S. listing through SPAC deal as CEO says 'Americans understand branding'
Publishing timestamp: 2024-02-28 09:25:15
Summary
AirAsia's branding unit is set to list in the U.S. through a SPAC merger with Aetherium Acquisition Corp. The company is betting on the appeal of franchise and licensing opportunities in the U.S. market. The move follows in the footsteps of Southeast Asian "superapp" Grab, which also listed in the U.S. after a SPAC merger. The deal values the new company, Capital International, at $1.15 billion, and AirAsia founder Tony Fernandes is looking to raise awareness of the brand's potential in Southeast Asia and beyond.
Sentiment: NEUTRAL
Tickers: GRAB, AIRX-MY, A6I-FF,
Keywords: business news, breaking news: markets, united states, aetherium acquisition corp, breaking news: business, airlines, grab holdings ltd, tony fernandes, a spac i acquisition corp, markets, transportation,
Source: https://www.cnbc.com/2024/02/28/airasia-unit-heads-for-nasdaq-listing-after-spac-deal.html