AXIATA Group Bhd shares rose in the early morning session despite a Japanese private equity firm’s potential disposal of a stake in its tower company in a deal that could be worth at least US$500 mil.
As of 10.16am, Axiata gained one sen to RM3.88, with 244,700 shares changing hands.
According to news reports, Innovation Network Corp of Japan (INCJ) is considering selling its stake in edotco Group Sdn Bhd.
Quoting sources, INCJ is said to have hired an adviser to help with the potential stake sale in edotco.
INCJ bought the shares from edotco’s parent company, Axiata, for US$400 mil via a private placement in 2017.
Deliberations are still at an early stage and INCJ may decide not to proceed with the planned deal, sources said. — May 8, 2020, Bernama
