KUALA LUMPUR: AXIATA Group Bhd has raised US$600 million (RM2.7 billion) from its record maiden private placement of a substantial stake in edotco Group. Axiata signed definitive agreements of the private placement with Innovation Network Corp of Japan (INCJ) and Khazanah Nasional Bhd yesterday. Public-private investment firm INCJ and Khazanah had subscribed for US$400 million and US$200 million, respectively, of primary and secondary edotco shares, said Axiata in a statement yesterday. edotco is an integrated telecommunications infrastructure services company that provides end-to-end solutions in the tower services sector from tower leasing, co-locations, build-to-suit, energy, transmission and operations and maintenance. “We are determined to make edotco a world-class business and one of the world’s largest independent tower companies by 2020,” he added.

Source: New Strait Times January 19, 2017 03:43 UTC