AirAsia X Bhd’s initial public offering (IPO) for the Malaysian public, which involves 150 million new shares in the company, has been oversubscribed.

Balloting of successful applications was conducted today.

Malaysian Issuing House Sdn Bhd said the institutional offering to Malaysian and foreign institutional investors and selected investors, including bumiputera institutional and selected investors approved by the International Trade and Industry Ministry, had closed.

In a statement today, the firm said the institutional price has been fixed at RM1.25 per share on June 21.

Accordingly, the final retail price is fixed at RM1.25 per share and a refund of the difference of RM0.20 per share will be dispatched to successful retail applicants within 10 market days from today.

AirAsia X, a long-haul affiliate of low-cost carrier AirAsia Bhd, is en route for a Main Board listing on Bursa Malaysia Securities on July 10, 2013.

- Bernama