Written by Joseph Chin
Friday, 16 October 2009 14:06
KUALA LUMPUR: Axiata Group Bhd says PT Excelcomindo Pratama Tbk (XL) rights issue, which will raise US$300 million, is on track as scheduled and is expected to be completed in December.
Axiata said on Friday, Oct 16 the right issue would see XL issuing 1.418 billion new shares of 100 rupiah each on the basis of one rights shares for every five shares held at an issue price of 2,000 rupiah per share.
It announced the Bursa Malaysia that the summary of the initial prospectus in relation to the rights Issue was published in Indonesian local newspapers today.
Axiata's unit Indocel Holding Sdn Bhd would undertake to subscribe its full entitlement under the rights issue. Indocel owns 83.8% of XL.
To ensure the rights issue is successful and meets the regulatory requirements in Indonesia, Indocel which holds 83.8% of XL, has also entered into a standby buyer agreement in which Indocel undertakes to subscribe to all the unsubscribed shares under the rights issue
About Me
- Nuang
- Ibrahim bin Ramli@Nuang started his career with CIMB Wealth Advisors Berhad as Agency Manager in April, 2008.Previously he was an Internal Auditors and Accounts Executive with Perodua Sales Sdn Bhd since 17 August, 1994. His background:- 1.Certified of Achievement for Master Sales Leadership from Dr Lawrence Walter Ng of President of The Art Of Learning and International Of Learning Without Learning 2.Certified for eXtra Ordinary Performance of Lawrence Walter Award Certificate for One Million Ringgit Club 2007 3. Certified Life & General insurances 4. Conferred with Diploma in Business Studiess & Bachelor of Business Admin(Hons)Finance from UiTM, Terengganu Branch & Shah Alam respectively;
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