JAKARTA. Axiata Investments (Indonesia) Sdn Bhd (AII) has purchased 659.99 million units of shares of PT XL Axiata Tbk (EXCL).

Vivek Sood, Director of AII, confirmed that the additional shares were purchased following AII’s position as the standby buyer in EXCL’s rights issue. The stock purchase took place on December 30 2022, for IDR 2,080 per share, thus resulting in a total transaction of IDR 1.37 trillion.

After the purchase, AII’s stock portion in EXCL rises to 66.25%. Previously, the percentage only amounted to 65.86%.

Recently, EXCL had issued 2.4 billion units of new shares in a rights issue. The shares involved in said corporate action are equal to 18.31%. Therefore, by fixing the price to IDR 2,080 per share, EXCL raised fresh funds of IDR 4.99 trillion at the end of this rights issue.

AII also exercised all its rights in this upcoming rights issue, amounting to 1.48 billion units for IDR 2,080 per share. The total transaction value clocked up to IDR 3.07 trillion. (KR/ZH)