Excelcomindo IPO priced at USD286 million

21 Sep 2005

Indonesian cellco Excelcomindo has set a USD286 million IPO for a 20% stake, pricing its shares at INR2,000 each, near the top end of a INR1,600 – INR2,100 range. The operator plans to use the funds to pay for additional transmitters and repay debt. The IPO values the company at INR14.3 trillion, and investors can place their orders between 21 and 23 September.

Indonesia, XL Axiata