Axiata to sell 5% stake in XL for RM424mil

The disposal will also see FIL granting Axiata the option to purchase the 5% stake in XL from FIL at 2,700 rupiah per XL share, the announcement said.

PETALING JAYA: Axiata Group Bhd’s unit, Axiata Investments (Indonesia) Sdn Bhd, will dispose of its 5% stake in XL – or 533.41 million shares – to Ferrymount Investments Limited (FIL), Procap Partners Ltd and Tiga Investments Pte Ltd for 1,440,205 million rupiah (RM423.5mil).

This is equivalent to 2,700 rupiah or 79 sen per XL share, the group said in a circular to Bursa Malaysia.