Bloomberg the Company & Products

Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Axiata Said to Plan $500 Million IPO of Towers in Malaysia

Axiata Said to Plan $500 Million IPO of Tower Assets in Malaysia
An employee walks by the Axiata Group Bhd. logo displayed in the company's headquarters in Kuala Lumpur. Photographer: Goh Seng Chong/Bloomberg

Aug. 26 (Bloomberg) -- Axiata Group Bhd., Malaysia’s largest mobile-phone operator by market value, plans to raise at least $500 million in an initial public offering of its telecommunications tower assets, said two people with knowledge of the matter.

Axiata is working with CIMB Group Holdings Bhd., Goldman Sachs Group Inc. and JPMorgan Chase & Co. on the IPO, which may take place next year in Kuala Lumpur, said the people, who asked not to be identified as the process is private.

Kuala Lumpur-based Axiata is evaluating a bid for PT Axis Telekom Indonesia as competition for cell-phone subscribers in that country intensifies, people familiar with the matter said in May. The company last year canceled a plan to sell 7,000 telecom towers in Indonesia, citing a lack of interest.

Malaysia hasn’t hosted an IPO of more than $500 million since Astro Malaysia Holdings Bhd. raised $1.5 billion in October last year, data compiled by Bloomberg show. UMW Oil & Gas Corp. said in July that it was planning to sell about 2.36 billion ringgit ($729 million) of shares in an IPO by the fourth quarter.

Axiata declined to comment in an e-mailed statement to Bloomberg News today.

The group plans to spin off its tower assets in seven countries into a single entity with a market value of 8 billion ringgit to 10 billion ringgit, Focus Malaysia newspaper reported in February.

To contact the reporters on this story: Joyce Koh in Singapore at; Elffie Chew in Kuala Lumpur at

To contact the editor responsible for this story: Philip Lagerkranser at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.