AXIATA Group Bhd is eyeing to raise RM255.2 mil with the proposed listing of its 68.69%-owned subsidiary, Robi Axiata Ltd, on the Dhaka Stock Exchange Ltd and the Chittagong Stock Exchange Ltd in Bangladesh.
In a filing with Bursa Malaysia, Axiata said Robi will issue 523.79 million new shares, representing 10% of its enlarged share capital post-listing, which would also dilute its shares in Robi by 6.87%.
Axiata, however, will continue to be the controlling shareholder of Robi when it’s listed.
The proceeds would mainly be used for network expansion, it said.
Robi is a mobile telecommunications service provider in Bangladesh providing voice, data and other internet-based innovative digital services.
Robi also provides international roaming services through international roaming agreements with various operators of different countries across the world. It is the second-largest mobile network operator in Bangladesh by subscribers with 49.0 million as of end-December 2019. – Feb 21, 2020, Bernama
