After being buffetted by persistent, record high oil prices, AirAsia priced its IPO towards the bottom end of the range on Friday. It marked a disappointing denouement for one of Asia's most interesting and entrepreneurial companies, but observers believe it was an achievement to price any kind of deal at all in a market currently obsessed with oil prices.
Under the lead management of Credit Suisse First Boston, ECM Libra and RHB Sakura, a 700.5 million share deal was priced at M$1.25 compared to an M$1.20 to M$1.50 range. Bankers say the M$858 million $226 million deal could have been comfortably priced at M$1.30, but the company decided to play...
