KUALA LUMPUR, Oct 23 —Maxis Bhd has set an indicative price range for its initial public offering at RM4.80 to RM5.50, aiming to raise up to US$3.65 billion (RM12 billion), according to a term sheet obtained by Reuters today.
Maxis plans to sell 2.25 billion shares, or 30 per cent, of its existing share capital in the listing, targeted for Nov. 19.
Maxis aims to fix the final price for the share offer on Nov. 10.
Proceeds from the listing, Southeast Asia's biggest since 1995, are aimed at reducing parent Maxis Communication Bhd's debt and meeting funding requirements of its investments in India and Indonesia. — Reuters
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