AirAsia parent Capital A to list brand management unit on Nasdaq via SPAC deal

Budget airline AirAsia parent Capital A said Wednesday it plans to list its brand management business on the Nasdaq by entering into a deal with a special purpose acquisition company Aetherium Acquisition Corp. Under the deal, Aetherium Acquisition will acquire all the issued and outstanding share capital of Capital A International, resulting in the formation of a new listed entity, according to a stock exchange filing. Aetherium Acquisition will ascribe to Capital A International for an indicative equity value of $1b alongside additional net cash proceeds. Capital A International will acquire 100% of both Brand AA, the registered proprietor for all the rights in AirAsia brand, and aircraft leasing company Fleet Consolidated from Capital A, according to the filing. Capital A International intends to generate revenue from brand royalty and leasing of aircraft, the filing showed. "Upon the completion of the proposed business combination, the group will have exposure to the capital markets in the USA through NASDAQ," Capital A said in the filing. It added that the deal provides an opportunity to unlock the value of its AirAsia brand. Capital A expects to record a one-off gain from the proposed combination, it added. Aetherium, a blank-check firm, has $29.99m in its trust account, which is subject to underwriting fees, the filing showed.<br/>