Home Industry Telecoms Etisalat Raises $510m From Axiata Stake Sale UAE telecommunications operator Etisalat sold 775 millions of its shares in Axiata. by Reuters September 13, 2012 Follow us Follow on Google News Follow on Facebook Follow on Instagram Follow on X Follow on LinkedIn Etisalat, the UAE’s biggest telecommunications company, raised about $510 million from the sale of a stake in Indonesia’s PT XL Axiata. The company sold 775 million shares at 6,300 rupiah each, putting the deal at 4.88 trillion rupiah ($510.03 million), according to a term sheet of the offering seen by Reuters on Thursday. The shares were priced at a discount of six per cent to Wednesday’s close, after having been marketed in a range of 6,100 to 6,300 rupiah each. JPMorgan and Morgan Stanley managed the share sale. Tags Etisalat 0 Comments You might also like From tourist eSIMs to fibre-to-the-room, e& on its latest UAE offerings Take a look: e& unveils recycled ‘green’ SIM cards UAE’s etisalat by e& attains TM Forum’s silver certification for Open API conformance UAE’s e& eyes further expansion, acquires Czech PPF Group’s telecom assets