Demerged Telekom Malaysia opens at 3.50 rgt p/shr

KUALA LUMPUR, April 22 (Reuters) - Telekom Malaysia Bhd (TLMM.KL: Quote, Profile, Research, Stock Buzz) started trading for the first time as a fixed-line business on Wednesday, opening at 3.50 ringgit per share, 15 percent higher than its indicative price of 3.05 ringgit.

Telekom Malaysia, the country's biggest domestic fixed-line and broadband provider, has spun off its mobile-phone business into a separate company, TM International, which is due to list on the local market on April 28.

Telekom Malaysia shares stood at 3.38 ringgit per share at 0102 GMT, valuing the company at about 12 billion ringgit ($3.83 billion). (Reporting by Mark Bendeich, editing by Naveen Thukral)