Sunday, April 2, 2023

[Business] Ananda Krishnan sells Maxis stake worth RM2.35bil

Its been reported that Malaysian billionaire, T. Ananda Krishnan is selling up to 375 million shares worth around RM2.35bil in Maxis Bhd.

Based on the media report, the shares were being priced at a range between RM6.21 and RM6.34 per share, the source said, representing a 3%-5% discount to the closing price of RM6.54 yesterday. It is believed that the 375m shares represents 5% of Maxis.

Officials at Maxis were not immediately available for comment. Ananda, Malaysia’s second-richest man, has been selling some of his assets.

CIMB and Credit Suisse are the joint bookrunner on the Maxis share sale, the source added.

Maxis was taken private in 2007 and re-listed again in 2009 with a $3.3 billion IPO , representing 30 per cent of its existing share capital. Some 25% of Maxis belongs to Saudi Telecom Company.

[Source]– Reuters

Kugan is the co-founder of MalaysianWireless. He has been observing the mobile industry since 2003. Connect with him on Twitter: @scamboy

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