The Indonesian mobile operator XL Axiata is planning to issue 170m new shares, which equates to a 2 per cent stake in the company, according to local media reports.
Citing Bloomberg, the Malaysia-based Business Times reported yesterday that the share…
The Indonesian mobile operator XL Axiata is planning to issue 170m new shares, which equates to a 2 per cent stake in the company, according to local media reports.
Citing Bloomberg, the Malaysia-based Business Times reported yesterday that the share issue was part of an incentive programme for management.
The shares will reportedly be issued in several parts, which will be issued in April each year until 2016.
XL Axiata did not reply to questions before the press deadline.
The Malaysia-based Axiata Group holds a 66.7% stake in XL Axiata. Etisalat owns 13% of the company.
