Seems like Saudi's PIF has backtracked on their USD$100m investment otherwise we would have seen a new substantial shareholder

Since no one has asked so far, who are the private placement investors?

Its not probably not, its definitely not lol

I am wondering whether AAX or Capital A is the better investment here.

Capital A (Continuing businesses) Q4FY24 to Q3FY25 NOP = RM208.1m
AAX (With Capital A's discontinued businesses) Q4FY24 to Q3FY25 NOP = RM890.2m

Valuation calculated using P/E of 15:
Capital A (Including 675m AAX shares) = (RM208.1m x 15) + (675m x RM1.62) = RM4.22b
AAX = RM890.2m x 15 = RM13.35b

Share price assuming full dilution:
Capital A (Assuming full conversion of RCUIDS and warrants) = RM4.22b/8.1b = RM0.52
AAX (Assuming PP at RM1.3 per share and full Garynma subscription) = RM13.35b/4.21b = RM3.18

but the fact that Tony and Kama did not convert their Capital A RCUIDS to ordinary shares doesn't really instill confidence for AAX

Just because you don't like what I said doesn't make it less true, Capital A does have some exposure in aviation post disposal. You as a shareholder will also be exposed given that you will be entitled to AirAsia X/AirAsia Group shares. That being said, I am bullish for ADE and Teleport

Brother, I am still an investor in Capital A Berhad and I hold almost 1 million shares and my concern is definitely valid given that Capital A Berhad shareholders will be entitled to AirAsia X/AirAsia Group shares. Capital A will still hold about 18%+ shares post distribution

Looking at the crack spread, the aviation market is not looking good. Despite brent crude dropping to $62, jet fuel prices have seen a steady climb to $98. Bear in mind Capital A's profit target is based on the assumption that jet fuel price is at $90

We won't know till the ex-date, there will likely be people converting their RCUIDS. Basically 1,692,307,692/Outstanding shares by 2nd December 2025 multiplied by the number of shares you have

Latest timeline per Capital A's presentation on 30 October 2025 to set expectations

Capital A:
End November - Entitlement date for proposed distribution
Early December - Filing with high court of Malaya
End December - Listing and quotation of AAX shares

AirAsia X:
Mid December - Price fixing of placement shares
Mid December - Entitlement Date for AAX Warrants
End December - AAX share allotment and issuance
End December - The launch of AirAsia Group

No comments on the AI slop so far? Oriental Kopi has been blocking people from calling them out and paying people to say generic comments "Bagus" or "Amazing"