Budget carrier AirAsia aims to float a stake in its Thailand-based subsidiary on the Bangkok stock exchange.
The listing of at least a quarter of the stock planned for early in 2012 would raise at least $150 million. AirAsia owns 49% of Thai AirAsia, with the remaining 51% owned by its Thai management.
The low-cost airline said an initial share sale of its Indonesian unit will follow shortly after the listing of the Thai-based arm. The company is aiming to raise $200 million from the Indonesia listing.
Chief executive Tony Fernandes said: “Both IPOs are on schedule with regards to due diligence process and the seeking of regulatory approval.
“We have always maintained the actual listing will be dependent on market conditions. In short, both Thailand and Indonesia continue to perform strongly heading into 2012.”