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Maxis suspended ahead of corporate news

The Star Online logo The Star Online 19/6/2017
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KUALA LUMPUR: The securities of Maxis Bhd were voluntarily suspended from 9am to 5pm on Monday.

The suspension was pending the release of a material announcement, CIMB Investment Bank Bhd said.

The last traded price of the shares was RM5.88.

Recall that at its AGM on April 26, Maxis received shareholders’ approval to issue up to 10% of its share base.

It was understood the funds would be would be used to pare down its net debt/earnings before interest, tax, depreciation and amortization which was two times in the first quarter of 2017.

Other possibilities would be that the  funds would for the 700MHz spectrum payment, which may be allocated in 2018F, and investments in adjacent businesses.

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