June 19, 2017 / 2:48 AM / a year ago

Malaysian wireless carrier Maxis plans up to $406 mln share offering -IFR

HONG KONG, June 19 (Reuters) - Malaysian wireless carrier Maxis Bhd plans to raise up to $406 million in a share offering to pay down debt and finance the potential acquisition of mobile phone waves, IFR reported on Monday, citing a term sheet of the transaction.

The company is offering 300 million new shares in the primary offering in an indicative range of 5.52–5.75 ringgit each, putting the total deal at up to 1.73 billion ringgit ($406 million), added IFR, a Thomson Reuters publication.

Maxis did not immediately reply to a Reuters request for comment on the share sale plan. The company earlier requested trading of its shares to be halted, pending a material announcement. It did not disclose further information. ($1 = 4.2660 ringgit) (Reporting by Fiona Lau of IFR; Writing by Elzio Barreto; Editing by Edwina Gibbs)

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