Explanation of the corporate events: User Manual
Corporate Updates - Bursa Malaysia
2025-04-01
Category: Corporate Updates
Frequency: Daily
Daily compilation of corporate updates and activities on Bursa Malaysia listed companies.
| Date | Company | Major Action | Recent Events |
|---|---|---|---|
| 11 Dec, 2024 | Axiata Group Bhd | Signed a definitive agreement with Sinar Mas to proceed with the proposed merger of PT XL Axiata Tbk (XL Axiata), PT Smartfren Telecom Tbk (Smartfren) and PT Smart Telcom (SmartTel). The merged entity will be named PT XLSmart Telecom Sejahtera Tbk (XLSmart), where Axiata and Sinar Mas will remain as joint controlling shareholders with a 34.8% ownership stake each. Public shareholders will hold the remaining 30.4%. XL Axiata will issue 5.07 billion new ordinary shares at an issue price of 2,350 rupiah (65.57 sen) per share to acquire the entities, for a total purchase consideration of 11.917 trillion rupiah (RM3.325 billion). To achieve the joint controlling shareholdings of Axiata and Sinar Mas, the deal will also see Axiata Investment (Indonesia) Sdn Bhd dispose of 2.38 billion shares in XLSmart to PT Bali Media Telekomunikasi (BMT) — a substantial shareholder of Smartfren — for a cash consideration of US$475 million (RM2.10 billion). | Merger & Acquisition |
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