Axiata tower company mulls shares sale

Axiata tower company mulls shares sale

Malaysia-based Axiata Group’s tower unit edotco was reportedly considering the sale of shares to raise US$600 million to support growth plans across the Asia Pacific, reported Bloomberg.

The publication reported edotoco appointed an adviser to hash out the deal, and if current shareholders including Axiata take part, the sale could raise around US$1 billion.

Sources told Bloomberg the deal could attract external investment as digital infrastructure assets in Asia has risen in demand.

Edotco manages a regional portfolio of 50,000 towers across Malaysia, Indonesia, Bangladesh, Cambodia, Sri Lanka, Pakistan, Philippines, Myanmar, and Laos.

Recently edotco alongside fellow tower company Edgepoint acquired half of the Philippines-based operator PLDT’s tower portfolio (2,973 towers) and in 2021 it acquired Malaysian tower company Touch Mindscape for US$404.5 million.

MORE ARTICLES YOU MAY BE INTERESTED IN...


Sign-up to our weekly newsletter

Keep up-to-date with all the latest news, articles, event and product updates posted on Developing Telecoms.
Subscribe to our FREE twice-weekly email newsletters for the latest telecom info in developing and emerging markets globally.
I agree with the Terms and conditions and the Privacy policy
By accepting occasional e-mails from our partners, inviting you to download articles, white papers and attend events, you are helping fund free access to this valuable news service for emerging markets.