Dr. Stanley Choi Chiu Fai has joined the Group as a major shareholder via his wholly-owned entity Positive Boom Limited, with the acquisition of 167.1 million shares of AirAsia on February 18, 2021.
On Thursday (February 25, 2021), AirAsia Group Berhad announced that businessman and M&A specialist Dr. Stanley Choi Chiu Fai has joined the Group as a major shareholder with the acquisition of 167.1 million shares in AirAsia via his wholly-owned entity Positive Boom Limited. The private placement has raised his holdings to 332.5 million shares, or an 8.96 percent stake in the company. Dr. Choi is the Chairman of Head & Shoulders Financial Group and serves of the board of the Hong Kong Stock Exchange. Additionally, he is the only Hong Kong co-founder of YunFeng Capital, a private equity fund co-founded by Jack Ma Yun, founder of Alibaba and David Yu Feng, founder of Target Media.
In Thursday’s announcement, Dr. Stanley Choi, said,
“It is my great pleasure and honour to gain a substantial ownership stake in AirAsia Group - the world's best low cost airline and one of Asia’s biggest known brands that has successfully pivoted into digital business as well. I believe the worst period in the aviation industry’s history has now passed. I am confident that air travel will bounce back and that under Tan Sri Tony’s and Datuk Kamarudin’s leadership, and with vaccines being rolled out across the region and globally, AirAsia has a very bright future ahead. I look forward to working with everyone at AirAsia.”
Also commenting on the expansion of Dr. Choi’s equity stake, AirAsia Group’s Executive Chairman, Datuk Kamarudin Meranun, added,
“We are thrilled to welcome Dr. Stanley Choi as a strategic shareholder of AirAsia Group, bringing an impressive track record and solid reputation as a business powerhouse to our Group. We are confident that he will add value to our digital business development in China through his vast experience and network with top digital players in the country. As chairman of one of the leading broking houses in Hong Kong, Dr. Stanley has a proven track record in the investment business and as a member of the YunFeng Capital, brings with him great access to key businesses in mainland China and opening opportunities for further synergistic collaborations with Asean.”
Dr. Stanley Choi is a successful businessman with over 20 years of experience in financial services and M&A transactions, particularly focused on private equity. He was a seed investor in Chinese startup Kidswant, a leading maternity, baby and children’s retailer in China with a valuation of over $3 billion. Dr. Choi graduated with a Master’s Degree of Science from the University of Illinois at Urbana Champaign (U.S.) in 1996. He also obtained a Doctoral Degree in Business Administration from the City University of Hong Kong in 2013.
Source: AirAsia Group Berhad