INFO PONSEL - Cellular operator PT Excelcomindo Pratama Tbk (excl) will issue new shares or right issue about 300 million U.S. dollars in the form of equity issuance and Mandatory convertible Notes (MCN).
Major corporate shareholders, Axiata Berhad Group and Emirates Telecommunications Corporation International Australia Ltd has agreed to use their right on this issue right.
Right this issue to reduce debt and improve corporate capital structure, so that companies invest freely, said the President Director Hasnul Suhaimi excl information in persnya, Wednesday.
Major shareholders have the same views with the company about this business and its potential with that balance and the ability to invest for a stronger, more takeovers will be able to compete in the future, stimulate growth and distribute the dividend to the shareholders.
However, the amount of equity and MCN, the price of shares and the conversion rates on the MCN will be determined later.
Axiata Group Berhad and Emirates Telecommunications Corporation International Australia Ltd has agreed to use their right on this issue right.
Fund results right issue will be used to pay debt interest costs, so depressed, in addition to improving the capital structure of the company so to strengthen the balance sheet XL continue to invest and grow.
Group President and Chief Executive Officer Axiata `Group Berhad Dato Sri Jamaludin Ibrahim said, as their largest shareholder is committed to high growth companies in the long term future.
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