Saudi Arabia's investment fund is now reportedly looking to invest around $100 million in local airline AirAsia. This step will not only help AirAsia in terms of funding but will also strengthen travel between Southeast Asia and Saudi Arabia. So, what should you know about it?
For your information, this move is also in line with Saudi Arabia's recent shift in attracting more tourists to their country. AirAsia is said to be in talks with several parties in the process of raising funds, including from Singapore and Japan. He said AirAsia might want to raise around RM1 billion, and the investment injection from Saudi Arabia might be one of the largest.
Additionally, AirAsia is said to offer a hold of up to 15% on the $2 billion valuation. According to reports, the announcement regarding the reinvestment injection is expected to take effect in a few weeks – provided all parties agree and talks proceed smoothly. We have yet to confirm other details on the news. So, we should wait for more details from AirAsia.
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