Bursa Malaysia passes listing, quotes 3.96 billion new Digi shares
KUALA LUMPUR: Bursa Malaysia Securities Bhd has approved the listing and quotation of 3.96 billion new ordinary shares in Digi.com Bhd to be issued under the proposed merger with Celcom Axiata Bhd.
In a statement to Bursa Malaysia on Thursday, Digi explained that it must first fully comply with the relevant provisions under the listing conditions related to the implementation of the proposed merger.
“Digi must comply with the requirements of the public shareholding spread pursuant to Paragraph 8.02 of the Listing Conditions during the listing and quotation of Digi’s new shares to be issued in accordance with the proposed merger,” he explained.
In April 2021, Axiata explained that as part of the merger transaction, the company will receive newly issued shares in Digi, representing a 33.1 percent post-transaction shareholding and a cash equalization amount of approximately RM2 billion, of which RM1.7 billion is from Digi as debt. new while the remaining RM300 million will be obtained from Telenor.
According to Axiata, the merged entity will continue to be listed on Bursa Malaysia, and is expected to increase the liquidity and profile of the exchange as one of the largest technology companies in Malaysia and one of the largest market capitalization companies on the exchange.
The merged entity will be considered the leading telecommunications service provider in Malaysia in terms of value, revenue and profitability; with proforma revenue of about RM12.4 billion, presynergy earnings before interest, tax, depreciation and amortization (EBITDA) of the combined entity is about RM5.7 billion and is estimated to record 19 million customers, Axiata added.
source – BERNAMA
