Indonesia’s PT Excelcomindo Pratama (XL) is planning to launch a rights issue in December 2009 as part of its plans to raise IDR2.84 trillion for debt repayments.

Indonesia’s PT Excelcomindo Pratama (XL) is planning to launch a rights issue in December 2009 as part of its plans to raise IDR2.84 trillion for debt repayments. XL intends to offer its shareholders one new share for every five existing shares priced at IDR2,000 per share. Malaysia’s Axiata Group (formerly Telkom Malaysia International) and Emirates Telecommunications Corporation are the majority shareholders in the company.