KUALA LUMPUR: Kumpulan Wang Persaraan (Diperbadankan) (KWAP) is subscribing to 136.63 million shares in edotco Group Sdn Bhd at a cash consideration of US$100m (RM440.95mil).
Axiata said on Tuesday edotco had signed a share subscription agreement with KWAP to take up the block of shares.
The telco said the selection of KWAP was made based on the same process and valuation of the earlier private placements to Innovation Network Corporation of Japan (INCJ) and Mount Bintang Sdn Bhd, a unit of Khazanah Nasional Bhd, which was completed on Jan 27, 2017.
“On the date of closing of this transaction which is expected to take place by end of April 2017, taking into consideration the subscription by KWAP of edotco shares above, Axiata will remain as the majority shareholder holding 62.4% of the issued shares of edotco with INCJ, Khazanah and KWAP collectively holding 37.6%,” it said.
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