Telekom mulls acquisitions in expansion plan
Dialog Telekom is looking at expanding its telecom related businesses
following the unprecedented demand, both local and foreign, for
its initial public offering.
investors who applied for up to 1,000 shares of the Dialog IPO will
be allotted in full. “We will look at any business as long
as that helps to bring in synergies to serve the telecom sector.
We will take to acquisitions or alliances, treating them as ‘content
providers’, which aids Dialog in its core competency,”
Tan Sri Radzi Bin Mansor, chairman of Telekom Malaysia, Dialog Telekom’s
parent, told The Sunday Times FT.
said that the company may even look at delivering media channels
on their soon-to-be launched 3G or third generation technology.
However, he said that expanding the coverage to the whole island
will be a primary concern for the company, whose IPO was oversubscribed
by an overwhelming six and a half times locally and 12 times by
will be concentrating on expanding our network to the rest of the
country,” he said. One of the reasons the Dialog IPO has done
well is because people need access to communications despite all
the political uncertainty and the external complications. “Mobility
is something everyone wants to have in any situation,” he
712.3 million shares had a local retail oversubscription of 4.2
times and a local institutional oversubscription of 1.26 times.
“We were overwhelmed at the local oversubscription and it
showed that Sri Lankans were confident about their own country,”
Telekom CEO Dr. Hans Wijayasuriya said that out of the total 53,700
applications, there were 172 foreign institutional and retail applications
for the issue. “There were foreign applications in the US$60
to 100 million range,” he said, but did not divulge the names
of the applicants.
qualified local institutional investors would be allocated 25 percent
of the offered shares and the retailers will get 35 percent. The
foreign investors will get 40 percent.
Wijayasuriya said that all applicants who have subscribed up to
and inclusive of 1,000 shares will be allotted in full. However,
all applicants subscribing for more than 1,000 shares will be allocated
pro-rata, on the number of shares applied for, from within the total
number of shares allocated to each category.