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Capital A Bhd (KL:CAPITALA) is "highly likely" to convert its sizeable stake in AirAsia X Bhd (KL:AAX) into dividends for its shareholders, according to Maybank Investment Bank.
“The group, which holds 655.5 million AAX shares worth about RM1.4 billion and 28.5 million warrants worth RM27.8 million, is weighing options that include distributing them in specie, accumulating retained earnings for a wholesale payout, or selling to a third party and declaring a special cash dividend,” the house said in a note on Thursday.
