KUALA LUMPUR: Malaysian tycoon Tony Fernandes plans to raise up to $300 million by listing shares in the long-haul arm of AirAsia, slated for July, a source said Monday.

AirAsia X would sell 790.12 million shares in the initial public offering (IPO) with listing scheduled for July 10 on Bursa Malaysia, a source familiar with the deal told Agence France-Presse on condition of anonymity.

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