Friday, December 15, 2017 | ePaper

Axiata, edotco upsize equity deal to $700m with KWAP

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Economic Reporter :
Axiata and its subsidiary edotco recently announced an additional US$ 100 million upsize of its 2016 record tower sector equity private placement deal with Malaysia's pension fund, Kumpulan Wang Persaraan (KWAP) joining the fold of investors.
The inclusion of KWAP brings edotco's maiden equity private placement to US$ 700 million surpassing its initial announced placement size of US$ 600 million, said a press release.
Based on edotco's portfolio at the close, final allocation of the private placement exercise has stood at US$ 400 million to Innovation Network Corporation of Japan, US$ 100 million to KWAP in primary shares and US$ 200 million to Khazanah Nasional Berhad in secondary shares.
At completion, edotco's shareholding results in the investors collectively owning 37.6 percent of edotco, with Axiata remaining as the majority shareholder at 62.4 percent.

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