Deals
Malaysia Mobile Giant Weighs $500 Million Tower IPO
- Malaysian operator jumps as much as 6.6% in Kuala Lumpur
- Edotco owns over 26,000 towers spanning Malaysia to Pakistan
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Axiata Group Bhd. rose the most in more than two years after people with knowledge said Malaysia’s biggest wireless carrier is considering an initial public offering of its tower unit that could raise at least $500 million.
Shares of Axiata climbed as much as 6.6 percent Friday, the most since August 2015. They were up 4.6 percent to 5.71 ringgit at 12:24 p.m. in Kuala Lumpur, outperforming the 0.6 percent increase in the country’s benchmark index.