LAST_UPDATEThu, 26 Apr 2018 11pm

Maxis Proposes To Issue New Shares, To Raise Proceeds Of Rm1.64 Bln

KUALA LUMPUR  - Maxis Bhd has proposed to issue 300,000,000 new shares under the proposed private placement to investors with an indicative issue price of RM5.47 per share.

"This represents approximately four per cent of the total number of issued shares of Maxis as at June 16, 2017, being the last trading day immediately prior to the date of the announcement of 7,510,510,600 its shares," the communications service provider said in a filing to Bursa Malaysia today.

The proceeds of RM1.64 billion, to be raised from the proposed private placement, will be used for the repayment of borrowings and related incidental costs within 12 months.