Malaysian company Airod is considering an initial public offering (IPO) on the Kuala Lumpur stock exchange to fund international expansion.
The maintenance and modification company is 90% privately owned by Tan Sri Ahmad Johan, while the government holds a golden 10% stake.
The IPO move is separate from plans to sell a 20-40% stake in the company to BAE Systems. A memorandum of understanding (MoU) was signed with BAE last year, with a decision expected in the next two months. That tie-up would lead to an expansion of Airod's military maintenance capability through an equity stake or joint venture maintenance facility.
Airod chief executive Kamil Aziz says international expansion will come largely through modification activities. This includes Lockheed Martin C-130 modifications.
Airod also hopes to export avionics upgrades and firefighting kits for Mil Mi-17 and Mi-171 helicopters.
Source: Flight Daily News
