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PR Newswire
23-10-2013, 08:41 PM
Axiata plans IPO for telco tower assets
KUALA LUMPUR – Axiata Group Bhd, Malaysia’s largest mobile-phone operator by market value, plans to undertake an initial public offering of its telecom towers within two years, the Bloomberg news agency reported, citing its group chief financial officer.
The IPO would include its assets in Asian markets such as Bangladesh and Sri Lanka, Mr James Maclaurin said in an interview in Kuala Lumpur on Tuesday.
“This IPO would encompass Axiata’s tower assets across all our footprint companies,” Mr Maclaurin said. “It’s more a question of improving our operational performance.”
Axiata is planning a US$500 million share sale, two people with knowledge of the matter said in August. Mr Maclaurin declined to say how much might be raised.
Axiata has stakes in companies including Singapore telco M1 Ltd, its latest annual report shows.
Mr Maclaurin will vacate his current post at the end of December to become chief executive officer of a new business unit called e.co that will oversee its tower interests, Axiata said separately in a statement.
http://www.todayonline.com/business/axia...wer-assets
KUALA LUMPUR – Axiata Group Bhd, Malaysia’s largest mobile-phone operator by market value, plans to undertake an initial public offering of its telecom towers within two years, the Bloomberg news agency reported, citing its group chief financial officer.
The IPO would include its assets in Asian markets such as Bangladesh and Sri Lanka, Mr James Maclaurin said in an interview in Kuala Lumpur on Tuesday.
“This IPO would encompass Axiata’s tower assets across all our footprint companies,” Mr Maclaurin said. “It’s more a question of improving our operational performance.”
Axiata is planning a US$500 million share sale, two people with knowledge of the matter said in August. Mr Maclaurin declined to say how much might be raised.
Axiata has stakes in companies including Singapore telco M1 Ltd, its latest annual report shows.
Mr Maclaurin will vacate his current post at the end of December to become chief executive officer of a new business unit called e.co that will oversee its tower interests, Axiata said separately in a statement.
http://www.todayonline.com/business/axia...wer-assets
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