AirAsia stocks appreciate on disposal of shares by EPF

KUALA LUMPUR: Shares of AirAsia Group Bhd (AAGB) and its sister company AirAsia X Bhd appreciated in active trading today following the recent downtrend amid in the wake of reports which alleged the low-cost airline took US$50 mil (RM205.55 mil) bribes from aircraft manufacturer Airbus.

The upswing in their share prices also came after the Employees Provident Fund (EPF) reportedly sold 7.92 million shares in AAGB.

According to separate filings on Bursa Malaysia, the retirement fund disposed 7.43 million of AAGB shares on Jan 28 and followed it up with another disposal of 492,500 worth of shares on the next day.

The EPF continues to hold 210.4 million shares, representing a 6.29% stake in the company following the disposals.

At 5 pm, AAGB share price closed one sen higher to RM1.16 with 192.53 million shares changed hands, while AirAsia X increased half-a-sen to 12.0 sen with 33.87 million shares transacted. – Feb 5, 2020, Bernama

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