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AirAsia issues 559 mln new shares to firm owned by CEO, chairman

Reuters

KUALA LUMPUR, Jan 26 (Reuters) - Malaysia's AirAsia Bhd said it has issued 559 million new ordinary shares to Tune Live Sdn Bhd, an investment holding company owned by the airline's Executive Chairman Kamarudin Meranun and group Chief Executive Officer Tony Fernandes.

Following the share issuance, Kamarudin and Fernandes have a combined shareholding in AirAsia of about 32.3 percent, the company said in a statement.

"With a subscription value of approximately 1.01 billion ringgit ($228.04 million), the shares issuance represents their continued commitment to support the growth and requirements of AirAsia Berhad," the airline said.

($1 = 4.4290 ringgit) (Reporting by A. Ananthalakshmi)