The share price of AirAsia Group Berhad has surged on 22nd February 2021 when a notable Hong Kong businessman and top poker player, Stanley Choi Chiu Fai, became the substantial shareholder of the company.
The share price surged 23.37% from a recent drop on February 19, where the price for the share was at RM0.77 to RM0.95 at February 23, 2021 when the market closed.
The poker player through his personal vehicle, Positive Bloom Ltd, has acquired 4.17% stake or 167.1 million shares on February 18, according to Bursa Malaysia.
The acquisition has made his total stake to be 8.96% or 332.5 million making him to be majority shareholder of the company.
It is also reported that the Hong Kong businessman paid RM114.46 million towards AirAsia’s private placement.
On top of that, the acquisition has also affected AirAsia’s sister company, AirAsia X Bhd. The company share price increased by 25% from 8 Sen to 10 Sen on the 23rd February.
A similar situation also occurred on February 10 where both counters also appeared within the most active trade list and AirAsia X Bhd is also second on the list.