Telecommunications company PT XL Axiata has finalised a deal to resell a 2.7 percent stake in the company, or 231.1 million shares, it had bought back from investors, to strengthen its financial position, said Chief Financial Officer Adlan Tajudin.
The company has appointed PT Mandiri Securities to conduct the transaction, which is valued at 1.31 trillion rupiah ($111.9 million), higher than an earlier target of 1.22 trillion rupiah. (Investor Daily)
Note: Reuters has not verified this story and does not vouch for its accuracy. (1 US dollar = 11,712 rupiah) (Compiled by Jakarta Newsroom)