MTN Networks expected to launch IPO later this year

8 Mar 2005

MTN Networks, the wholly owned Sri Lankan mobile subsidiary of Telekom Malaysia, is planning to list on the Colombo bourse. The cellco is expected to offer 10% of its shares in an initial public offering later this year; the USD30-40 million raised will be channelled back into its operations. With 1.4 million subscribers MTN Networks is the largest of Sri Lanka’s four mobile operators. The company plans to launch a commercial 3G trial before the end of 2005.

Sri Lanka, Dialog Axiata, Telekom Malaysia