Judul : ANANDA ON THE BORROWING TRAIL: MAXIS TO RAISE UP TO RM1.7BIL FROM SHARE PLACEMENT
link : ANANDA ON THE BORROWING TRAIL: MAXIS TO RAISE UP TO RM1.7BIL FROM SHARE PLACEMENT
ANANDA ON THE BORROWING TRAIL: MAXIS TO RAISE UP TO RM1.7BIL FROM SHARE PLACEMENT
KUALA LUMPUR – Maxis Bhd could raise up to RM1.72bil from its proposed placement of 300 million shares at prices ranging from RM5.52 and RM5.75 each.
Bloomberg reported on Monday the price for the share placement was 2.2% to 6.1% below the last closing price of RM5.88. This would see the telco raising between RM1.65bil to RM1.72bil.
It said the term sheet showed the shares represented 4% of existing share capital. Credit Suisse and CIMB are joint bookrunners.
Recall that at its AGM on April 26, Maxis received shareholders’ approval to issue up to 10% of its share base.
It was understood the funds would be would be used to pare down its net debt/earnings before interest, tax, depreciation and amortisation which was two times in the first quarter of 2017.
Other possibilities would be that the funds would for the 700MHz spectrum payment, which may be allocated in 2018F, and investments in adjacent businesses.
– ANN
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✍ Sumber Pautan : ☕ Malaysia Chronicle
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Appear first on Times News Malaysia
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