Dialog to raise USD190 million

23 Apr 2007

Dialog Telekom, Sri Lanka’s biggest mobile operator by subscribers, plans to raise up to LKR20.5 billion (USD190 million) to help fund expansion over the next three years. The company plans to roll out new services such as mobile videoconferencing to increase its share of a market that Dialog forecasts will grow to 6.5 million subscribers by the end of 2007. At 31 December 2006 Dialog had 3.1 million customers, or 57% of the market, and the country had a total of 5.4 million mobile phone users. CEO Hans Wijayasuriya has said the company expects to meet its target of 66% profit growth this year as it offers new services to attract more users.

Sri Lanka, Dialog Axiata