Axiata Group and its subsidiary Edotco Group have announced an additional USD 100 million upsize of the 2016 record tower sector equity private placement, with Malaysian pension fund Kumpulan Wang Persaraan (KWAP) joining the fold of investors. The inclusion of KWAP brings Edotco’s maiden equity private placement to USD 700 million, surpassing its initial announced placement size of USD 600 million.
Based on Edotco’s portfolio at the close, final allocation of the private placement exercise stands at USD 400 million to Innovation Network Corporation of Japan, USD 100 million to KWAP in primary shares, and USD 200 million to Khazanah Nasional in secondary shares. At completion, Edotco’s shareholding results in the investors collectively owning 37.6 percent of edotco, with Axiata remaining as the majority shareholder at 62.4 percent.
