Green Packet is planning to subscribe to 419,500 Class A Islamic Irredeemable Convertible Preference Shares in Packet One Networks (Malaysia) for RM110 million at RM262.22 per share.

Green Packet is planning to subscribe to 419,500 Class A Islamic Irredeemable Convertible Preference Shares in Packet One Networks (Malaysia) for RM110 million at RM262.22 per share.

Packet One is likely to use the funds for its nationwide rollout of a Wi-Max network and the expansion of its product range. It intends to achieve 45 per cent population coverage for its services by the end of 2010.