Khazanah Nasional sells DiGi stake

1 Nov 2013

TMT Finance reports that Malaysian state-owned financial group Khazanah Nasional raised MYR294 million (USD93.8 million) from the sale of 59 million shares of local mobile network operator DiGi.Com, representing Khazanah’s entire stock holding. The shares were reportedly priced at MYR4.76 per share and carried a discount of some 2.2% to the market prior to launch. The online journal says that CIMB arranged the placement to institutions, which represents less than 1% of DiGi’s entire share capital.

TeleGeography notes that the cellco, Malaysia’s third largest mobile operator, is controlled by Telenor of Norway. DiGi Telecommunications is wholly owned by holding company DiGi.Com, which in turn is 49%-owned by the Norwegian telecoms group, the maximum allowed under Malaysia’s foreign shareholding rules. The only other company to hold more than 5% in the mobile network operator is Employees Provident Fund Board, which has 14.69% of DiGi’s stock. Also of note, local alternative fixed line operator TIME dotCom has a 3.05% holding in DiGi.

Malaysia, Digi Telecommunications, Telenor Group