Axiata plans IPO for telco tower assets

Malaysia’s Axiata Group is said to be planning to conduct an Initial Public Offering (IPO) of its telecom towers within two years, the Business Times cites its chief financial officer James Maclaurin as saying. It is understood that the IPO would include the company’s assets in Asian markets, such as Bangladesh and Sri Lanka. Mr Mclaurin, who will leave his current position at the end of the year to become CEO of e.co, the new business unit that will oversee Axiata’s tower interests, said: ‘This IPO would encompass Axiata’s tower assets across all our footprint companies … It’s more a question of improving our operational performance.’