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INDONESIA DEAL

Etisalat raises $510m from Axiata stake sale

Hong Kong, September 13, 2012

 

Etisalat, the United Arab Emirates' biggest telecommunications company, raised about $510 million from the sale of a stake in Indonesia's PT XL Axiata.
 
The company sold 775 million shares at 6,300 rupiah each, putting the deal at 4.88 trillion rupiah ($510.03 million), according to a term sheet of the offering seen by Reuters on Thursday.
 
The shares were priced at a discount of 6 percent to Wednesday's close, after having been marketed in a range of 6,100 to 6,300 rupiah each.
 
JPMorgan and Morgan Stanley managed the share sale.  - Reuters



Tags: UAE | Etisalat | Indonesia |

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