Browse
related articles
Etisalat to sell most of its stake in Axiata
- United Arab Emirates: Thursday, September 13 - 2012 at 11:12
UAE-based Etisalat aims to raise up to $502m by selling most of its stake in PT XL Axiata, in Indonesia's biggest block offering since December 2010, Reuters has reported. The move highlights the emergence of equity capital markets in Southeast Asia, which has seen a boom in share offerings in Malaysia, Thailand and other markets. It also follows a surge of nearly 50% in XL Axiata shares in 2012, compared with an 8.7% rise in Indonesia's benchmark share index. "It's hard for Etisalat to expand its business if they're not the controlling shareholder like Axiata," said Jemmy Paul, head of equity fund Sucorinvest Asset Management in Jakarta. "So it's better to divest the investment at a good price."
Related Content
Article Options
StaffThursday, September 13 - 2012 at 11:12 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / 4C.
Disclaimer »
The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of the AMEinfo.com Web site does not constitute advice or a recommendation by AME Info FZ LLC / 4C and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this AMEinfo.com Web site.
AME Info FZ LLC / 4C can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on the AMEinfo.com Web site nor do opinions of contributors necessarily reflect those of AME Info FZ LLC / 4C.
In no event shall AME Info FZ LLC / 4C be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to the AMEinfo.com Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise.
