AirAsia’s Brand Unit Is Nearing Nasdaq Backdoor Listing (1)

AirAsia co-founder Tony Fernandes said that the Asian airline’s branding unit is closing in on a Nasdaq-listed target for a backdoor listing later this year that would value the newly created entity at about $1.5 billion.

The deal, which will involve the merger of the branding unit with the US-listed company, will probably be announced within the next two months, Fernandes said in an interview on Friday in Kuala Lumpur. The merged entity will probably debut in the third quarter, he said.

The deal would mark the revival of a plan Fernandes talked about two years ago but that never ...