Malaysian wireless carrier Maxis seeks up to US$406m in share sale

KUALA LUMPUR

KUALA LUMPUR

The offering consists of 300 million new shares in an indicative range of 5.52-5.75 ringgit each, valuing the deal at up to 1.73 billion ringgit (US$406 million), added IFR, a Thomson Reuters publication.

The shares will be priced between 5.52 ringgit ($1.29) and MYR5.75 each, the term sheet showed, representing a discount of up to 6.1% to the closing price of MYR5.88 on Friday. (6012.KU) is selling 300 million new shares that could raise up to $403 million, according to a term sheet seen by The Wall Street Journal on Monday.

May heckled as London fire toll hits 30
However, as many have pointed out, 91-year-old Queen Elizabeth II managed to visit with some of the people affected overnight. Amongst the dead was artist Khadija Saye, whose photography is now being exhibited at the Vienna Biennale.

Maxis shares have been suspended from trading since this morning.

It was understood the funds would be would be used to pare down its net debt/earnings before interest, tax, depreciation and amortisation which was two times in the first quarter of 2017.

1 dead in crash near London mosque suspected as terrorism
Muslim Association of Britain President Omer El-Hamdoon said: "Our thoughts and prayers are with the victims of this evil attack". She said her thoughts were with the injured, their loved ones and emergency officials who responded to the incident.

The actual proceeds to be raised can only be determined after the bookbuilding exercise for the placement, it said.

It is proposing an equity fund-raising exercise to strengthen its financial position by reducing part of the group's existing borrowings.

2 dead in suspected jihadist attack on Mali spa
In March the same year, a grenade and gun attack on La Terrasse nightclub in Bamako killed five people, including foreigners. Malian security minister Salif Traore told AFP news agency that it was a jihadist attack, while conforming the casualties.

Later, Maxis announced that the share placement would be carried out via a book-building exercise on Monday. We expect the private placement to be completed by the end of July 2017.

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