AirAsia Indonesia IPO to be held end of 2011; Chinese airline shares mixed

AirAsia Indonesia confirmed its 20% IPO to be held at the end of 4Q2011 is expected to raise USD150 million-200 million. Funds raised will be used to procure new aircraft, boost capital, finance long-term operational costs and speed corporate growth. The company also aims to increase revenue by 15% in 2011. AirAsia shares rose 2.8% in trading on Thursday.

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