Capital A Berhad, the proud owner of the renowned AirAsia brand, has announced its plan to go public in the United States through a strategic business combination with Aetherium Acquisition Corp (NASDAQ: GMFI), a Special Purpose Acquisition Company (SPAC). This move signifies a significant step for Capital A International (CAPI), positioning itself in the U.S. public markets.
CAPI is traded on the Kuala Lumpur Stock Exchange under the symbol 5099.KL, has successfully finalized the business combination agreement with Aetherium Acquisition Corp. The objective is to leverage the expansion, management, and licensing of the iconic AirAsia brand, serving as a dynamic global marketing catalyst for ASEAN brands.
“Over more than two decades, AirAsia has become a prestigious brand synonymous with value, innovation and inclusivity. AirAsia has transformed from a small Malaysian airline into a leading global aviation and travel brand valued at over $1 billion*, and enabled Capital A to build a diversified portfolio spanning aviation, aviation services, logistics, and digital companies in fintech, travel and hospitality. The evolution of the AirAsia brand has created a loyal global consumer base, positioning us favorably to expand our brand internationally through CAPI. This listing grants us access to the world’s most extensive and liquid capital markets, enhancing the company’s international credibility and presence while creating value for our shareholders,” according to Tony Fernandes, the driving force behind AirAsia’s transformation into a global airline. With his leadership, AirAsia has grown from just two planes to become Asia’s largest low-cost carrier and one of the world’s top three strongest airline brands. Operating across ASEAN with hubs in Malaysia, Thailand, Indonesia, the Philippines, and soon Cambodia, AirAsia has flown over 776 million passengers across 278 routes to 131 global destinations.
In addition to the AirAsia brand, CAPI holds intellectual property rights for 14 other renowned brands and over 224 trademarks across 23 countries. The company’s platform integrates brand strategy, creative marketing, and intellectual property development to strategically position its brands and cultivate cultural significance among consumers.
Fernandes expressed optimism about the potential for CAPI’s brand business to expand beyond its origins, particularly in markets where intellectual property and brand value are highly esteemed.
The proposed transaction reflects an estimated pro forma enterprise value for CAPI of US$1.15 billion. While the boards of both CAPI and Aetherium have unanimously approved the transaction, it remains subject to the approval of Aetherium stockholders and other customary closing conditions. More details about the transaction, including a copy of the Business Combination Agreement, will be available in a current report filed by Aetherium on Form 8-K with the U.S. Securities and Exchange Commission.
CAPI’s growth strategy involves extending the AirAsia brand beyond the travel sector, developing new brands capitalizing on the strength of ASEAN markets, creating character intellectual property through partnerships and merchandising, and acquiring and growing other Asean-based brands. The company is guided by an experienced management team with a successful track record in brand management.
Greenberg Traurig, LLP serves as U.S. legal counsel, Foong & Partners serves as Malaysian legal counsel to CAPI, and Rimon P.C. serves as United States legal counsel to Aetherium.