SINGTEL is subscribing to 170 million new shares at 220 rupees apiece, or 37.5 billion rupees (S$726.5 million), in the latest rights issue by its regional associate - India's Bharti Airtel (Airtel). This represents 15 per cent of the 250 billion rupee rights issue. Read more at The Business Times.
SINGTEL is subscribing to 170 million new shares at 220 rupees apiece, or 37.5 billion rupees , in the latest rights issue by its regional associate - India's Bharti Airtel . This represents 15 per cent of the 250 billion rupee rights issue.
GIC is a first-time investor in Airtel, while Singtel is an existing majority shareholder; Singtel will remain the largest shareholder post-rights issue. Assuming the rights issue is fully subscribed, its shareholding will dilute to about 35.2 per cent from 39.5 per cent.
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