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The Malaysian Securities Commission has approved the merger of Digi and Celcom!

16/09/2022

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The Malaysian Securities Commission has approved the merger between Digi and Celcom!

 

According to Digi, the Securities Commission of Malaysia (SC) has approved the merger of Digi and Axiata Celcom, which will be followed by a series of shareholding changes.

 

It is understood that Digi will pay RM17,756,150,000 to acquire all the shares of Axiata Celcom, including the issuance of 73,370,844 new shares to Axiata at RM4.06 per share.

 

Digi will then issue another 3,883.12 million 9144 new shares to Axiata, also at RM4.06. Digi will also pay RM1,692.73 million 3818 in cash to Axiata.

 

After the change in shareholding, that is, the ratio of indigenous, non-indigenous and foreign ownership will change dramatically, so Digi will issue additional new shares to adjust the shareholding ratio.

 

Aixata Celcom and Digi have already received a no objection circular from the Malaysian Communications and Multimedia Commission (MCMC), which means that they can proceed with the proposed merger, which will form Celcom Digi Berhad, the largest telecommunications company in Malaysia.

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