Capital A Berhad, the parent company of low-cost carrier AirAsia, is preparing for a potential dual listing on the Hong Kong Stock Exchange to unlock fresh capital and strengthen its global investor base, particularly across Greater China.

The Malaysian-based group, which rebranded from AirAsia Group Berhad in 2022, has evolved well beyond its airline roots. Today, Capital A is a growing ecosystem of digital-first, asset-light businesses spanning aviation, logistics, travel, and engineering services.

Its portfolio includes the AirAsia airline, the delivery network Teleport, aircraft maintenance provider Asia Digital Engineering ( ADE ), and AirAsia MOVE, a digital travel and lifestyle platform.

According to the company, the Hong Kong listing would complement its current presence on Bursa Malaysia and give international and Chinese investors a direct route into one of Southeast Asia’s growing consumer and logistics platforms.

“We are proudly rooted in Asean but built for the world,” says Capital A chief executive officer Tony Fernandes. “With over 20 destinations in Greater China and strong brand equity in the region, Hong Kong is a natural gateway for us to connect with a broader, global capital market.”

Fernandes says a dual listing would not only support Capital A’s next phase of growth but also amplify visibility for its emerging business units, which are gaining traction independently.

Capital A is currently in talks to appoint an international investment bank to advise on the listing structure and timeline. Any formal application will be subject to internal assessments and regulatory approvals, the company notes.

The move aligns with Capital A’s plans to exit Bursa Malaysia’s PN17 classification, a designation for financially distressed firms, by mid-2025. Once regularization is complete, the company is expected to accelerate strategic initiatives, including strengthening its balance sheet and attracting new long-term investors.

Hong Kong, with its ties to both international and mainland Chinese investors, continues to be a magnet for Asean-based companies looking to scale globally. Southbound Stock Connect and other cross-border mechanisms have added momentum to the city’s capital markets in recent years.