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

Maxis to issue 300 million new shares to strengthen financial position

Maxis to issue 300 million new shares to strengthen financial position

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.

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The 91-year-old monarch said it is "difficult to escape a very somber mood" on what is normally a day of celebration. The identification of the victims is proving very hard - which experts attribute to the extreme heat of the fire.

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.

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In a statement outside 10, Downing Street, May had said that there was "far too much tolerance of extremism in our country". On May 22, a suicide attack killed 22 people and injured almost 60 after an Ariana Grande concert in Manchester.

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.

Gunmen Attack Resort in Mali's Bamako
Modibo Diarra, a nearby resident, said: "I heard gunfire coming from the camp and I saw people running out of the tourist site". The security ministry spokesman said that security forces are in place and that the resort was blocked off for the operation.

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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