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AIRASIA Bhd's major shareholder Tune Air Sdn Bhd and the budget carrier's chief financial officer Raja Mohd Azmi Raja Razali have placed out a total of 60 million shares valued at RM94.4 million.

They placed out the shares to the Employees Provident Fund (EPF) and other financial institutions. AirAsia said in a statement yesterday that Raja Azmi disposed of 40 million shares of 10 sen each, representing 1.7% of the paid-up, on Nov 8 at RM1.61 per share.

Upon completion of the disposal, his remaining stake is 27.15 million shares or 1.16%.

In another statement, AirAsia said Tune Air disposed of 20 million shares or 0.86% in the budget carrier at RM1.50 per share in an offmarket transaction. After the disposal of the stake, Tune Air's shareholding was reduced to 1.02 billion shares or 43.87%.

Bernama reported AirAsia and Tune Air executive director Kamarudin Meranum as saying that while it was a nominal share placement on Tune Air's part, the placement represented a signi cant step to have the EPF, the largest domestic fund, as a significant investor of AirAsia.

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