NEWSWIRETODAY Press Release& Newswire Distribution | HOME
MOST TRUSTED NEWSWIRE PRESS RELEASE DISTRIBUTION
PRTODAY / NewswireToday press release distribution service network
Agency / Source: Axiata

Check Ads Availability|e-mail Article

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

Axiata to Fully Subscribe to Pro Rata Rights Entitlement of XL’s Rights Issue - In a proactive balance sheet management initiative, XL plans to conduct a rights issue with net proceeds from the capital raising exercise going towards the repayment of the Company’s USD500 million shareholder loans - XL.co.id / Axiata.com
Axiata to Fully Subscribe to Pro Rata Rights Entitlement of XL’s Rights Issue

 

NewswireTODAY - /newswire/ - Kuala Lumpur, Malaysia, 2016/02/02 - In a proactive balance sheet management initiative, XL plans to conduct a rights issue with net proceeds from the capital raising exercise going towards the repayment of the Company’s USD500 million shareholder loans - XL.co.id / Axiata.com.

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Telecom / Wireless / VoIP / IPTV Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Demonstrating its long-term commitment as the major shareholder of its Indonesian subsidiary, PT XL Axiata Tbk (“XL” or “the Company”), Axiata Group Berhad (“Axiata” or “the Group”) indicated its intention to fully subscribe to the pro rata rights entitlement under the rights issue announced by XL yesterday.

In a proactive balance sheet management initiative, XL plans to conduct a rights issue with net proceeds from the capital raising exercise going towards the repayment of the Company’s USD500 million shareholder loans.

Dato’ Sri Jamaludin Ibrahim, President and Group Chief Executive Officer of Axiata commented,“XL is integral to Axiata and is a significant contributor to the Group. As a committed, long-term investor to XL, our intention to fully subscribe to our pro rata entitlement is a testament we believe in XL’s growth potential and are pleased with the progress of its transformation agenda.

“We are especially pleased to support the rights issuance and early retirement of the shareholder loan. This exercise will help XL improve its debt to EBITDA ratio which will further strengthen its balance sheet, giving them enough room to invest for future growth as XL embarks on the next chapter of its growth story.”

XL has been seeing positive momentum from its “3R Revamp, Rise & Reinvent” transformation agenda implemented at the start of 2015. In tandem with the Company’s transformation strategy, XL had set out a clear and concrete plan to proactively strengthen the Company’s financial position through a series of balance sheet management initiatives to reduce the foreign exchange exposure and volatility. The rights issue is in line with this plan to allow XL to further strengthen its balance sheet, improve its capital structure and maintain greater financial flexibility.

The rights issue is subject to XL’s shareholders’ approval through an Extraordinary General Meeting of Shareholders (“EGMS”) scheduled for 10 March 2016. The remainder of the rights issue is expected to be fully underwritten.

About Axiata
Axiata (axiata.com) is one of the largest Asian telecommunications companies. Axiata has controlling interests in mobile operators in Malaysia, Indonesia, Sri Lanka, Bangladesh and Cambodia with significant strategic stakes in India and Singapore.

The Group’s mobile subsidiaries and associates operate under the brand name ‘Celcom’ in Malaysia, ‘XL’ in Indonesia, ‘Dialog’ in Sri Lanka, ‘Robi’ in Bangladesh, ‘Smart’ in Cambodia, ‘Idea’ in India and ‘M1’ in Singapore.

The Group, including its subsidiaries and associates, has over 260 million mobile subscribers in Asia. The Group revenue for 2014 was RM18.7 billion. The Group provides employment to over 25,000 people across Asia. Axiata’s vision is to be a regional champion by 2015 by piecing together the best throughout the region in connectivity, technology and talent, uniting them towards a single goal: Advancing Asia.

The Group has expanded its portfolio of business which now includes a communications infrastructure solutions and services company called “edotco” and a digital services company, Axiata Digital Services.

Axiata was awarded the Frost & Sullivan 2009, 2010, 2011, 2012, 2013 and 2014 Asia Pacific ICT Award for Best Telecom Group and the Telecom Asia Best Regional Mobile Group 2010 and 2011 for its operations in multiple Asian markets.

About XL
PT XL Axiata Tbk (xl.co.id) is one of the major cellular providers in Indonesia. PT XL Axiata Tbk. is (66.4%) owned by Axiata Group Berhad through Axiata Investments (Indonesia) Sdn Bhd and public (33.6%), and is part of Axiata Group (“Group”). The Group’s mobile subsidiaries and associates operate under the brand name ‘Celcom’ in Malaysia, ‘Dialog’ in Sri Lanka, ‘Robi’ in Bangladesh, ‘Smart’ in Cambodia, ‘Idea’ in India, Multinet in Pakistan and ‘M1’ in Singapore.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Telecom / Wireless / VoIP / IPTV Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Agency / Source: Axiata

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick NewswireToday Visibility Checker

 

Distribution / Indexing: [+]  / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Telecom / Wireless / VoIP / IPTV articles,
CATCH Visitors via Your Competitors Announcements!


Axiata to Fully Subscribe to Pro Rata Rights Entitlement of XL’s Rights Issue

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name NewswireToday and LINK as the source.
 
  For more information, please visit:
Is this your article? Activate ALL web links by Upgrading to Press Release PREMIUM Plan Now!
Axiata | PT XL Axiata Tbk
Contact: Gowri Mohanadas - Axiata.com 
+603-2263 8897 gowri[.]axiata.com
 
PRZOOM / PRTODAY - Newswire Today disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Axiata securities in any jurisdiction including any other companies listed or named in this release.

Telecom / Wireless / VoIP / IPTV via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From Axiata / Company Profile


Read Telecom / Wireless / VoIP / IPTV Most Recent Related Newswires:

Toyota Tsusho, IIJ, NEC, and NTT Com Sign Contract with Uzbektelecom for Telecommunications Infrastructure Development Project
Demand for Smart City Solutions Spikes with Investments in Upgrading Telecommunication Networks Finds Frost & Sullivan
Commercial Appeal Names Ritter Communications A Winner of the Memphis Metro Area Top Workplaces 2022 Award
Qualcomm and Salesforce to Help Automakers Build Data-Driven and Connected Customer Experiences
U Mobile Applauded by Frost & Sullivan for its Stellar Brand Equity, Performance, and High-quality, Affordable, and Accessible Mobile Services
Montgomery County, Texas Adopts Rave Panic Button to Enhance School Safety and Foster Collaboration with Local Law Enforcement
NEC Demonstrates Mission-critical Open RAN Integrations in O-RAN Global PlugFest Fall 2022
Qualcomm Unveils Lowest Power IoT-Optimized LTE-Modem Featuring Integrated Terrestrial Positioning Support
Motorola Solutions APX NEXT XN Radio Meets the Most Stringent Standards for Use by the Fire Market
Qualcomm Revolutionizes Home Networking with Wi-Fi 7 Immersive Home Platforms
NEC Wins Industry Awards Highlighting Open RAN Leadership
Qualcomm Announces Samsung as Presenting Partner of the Snapdragon Pro Series
Qualcomm Announces Long-Range Compact Macro Platform for Cost-Effective Outdoor mmWave Deployments
Wiltshire Police to Deploy Pronto Digital Policing Application from Motorola Solutions
Qualcomm and Siemens Collaborate on 5G Smart Building Networks

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  RightITnow, Inc.

Visit  BizJobs.com





 
  ©2005-2023 NewswireToday — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com newswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are proudly NOT affiliated with USA TODAY (usatoday.com)