Airtel converts FCCBs worth $49.87 million into equity

Bharti Airtel has converted $49.87 million worth of foreign currency convertible bonds (FCCBs) into equity. In January 2020, Airtel had raised $1,000 million through the issuance of FCCBs that were convertible into the company’s fully-paid up-equity shares of Rs 5 each at any time on or after February 27, 2020, and up to the close of business hours on February 7, 2025, at the option of the FCCB holders. With the conversion of the FCCBs, their outstanding principal value listed on Singapore Exchange Limited stands reduced to $80.6 million.

Vodafone Group Plc offloads 18 per cent stake in Indus Towers

Vodafone Group Plc has sold 484.7 million shares in Indus Towers Limited, representing 18 per cent of Indus’s share capital, through an accelerated book-build offering. The placement raised Rs 153 billion in gross proceeds, which will be used to substantially repay Vodafone’s existing lenders in relation to the outstanding bank borrowings of Euro 1.8 billion secured against Vodafone’s Indian assets. Following the stake sale, Vodafone holds 82.5 million shares in Indus Towers, equivalent to a 3.1 per cent shareholding.

Dialog acquires 100 per cent stake in Airtel Lanka via share swap deal

Dialog Axiata has acquired 100 per cent stake in Bharti Airtel’s subsidiary, Airtel Lanka in Sri Lanka through an all-stock deal. Upon completion of the transaction, Dialog holds 100 per cent of Airtel Lanka’s shares and Bharti Airtel holds 10.355 per cent of Dialog’s shares. The transaction follows a definitive pact signed between Dialog Axiata, Axiata Group Berhad and Bharti Airtel in April 2024, according to which Dialog was to acquire 100 per cent of the issued shares in Airtel Lanka. For this, Dialog, in turn, would issue ordinary voting shares totalling 10.355 per cent of the total issued shares to Airtel by way of a share swap. The deal was concluded in June 2024.

SAR Televenture announces composite equity issue of Rs 4.5 billion

SAR Televenture Limited has announced composite equity issue of Rs 4.5 billion. The composite issue comprises a rights issue aggregating to Rs 3 billion and a follow-on public offer (FPO) aggregating to Rs 1.5 billion. The rights issue will comprise 15,000,000 fully paid-up equity shares of Rs 2 each at an issue price of Rs 200 per rights share (including a premium of Rs 198 per rights share). Meanwhile, the price band of the FPO will be Rs 200 to

Rs 210 per equity share.

Africa Data Centres receives $112 million funding from RMB (South Africa)

Africa Data Centres (ADC) has received funding worth $112 million that will allow it to expand its data centre capacity and meet the growing demand for cloud computing services in South Africa. This funding was facilitated through a financing solution arranged by RMB Private Bank. The financing will enable ADC to expand its hyperscale data centre capacity in South Africa by an additional 20 MW, enabling it to provide the highest standard of interconnected, carrier and cloud-neutral data centre facilities.

Globe Telecom sells 187 additional towers to Frontier Towers (Philippines)

Globe Telecom has sold an additional 187 towers to Frontier Towers. To date, Globe Telecom has handed over 2,492 towers out of 3,529 units. The sale and leaseback agreement between the parties was originally signed in 2022. As part of its strategy to raise funds for capital expenditures and other corporate needs, Globe Telecom has sold a total of 7,506 tower assets for PhP 96.4 billion ($1.6 billion) to multiple tower companies.

CelcomDigi, Maxis, U Mobile and YTL complete SSA with MoF Inc. and DNB (Malaysia)

CelcomDigi, Maxis, U Mobile and YTL have announced the completion of their share subscription agreement (SSA) with Digital Nasional Berhad (DNB) and the Ministry of Finance Incorporated (MoF Inc.) after fulfilling all conditions. The conclusion of the SSA will pave the way for the establishment of Malaysia’s second 5G network as part of the government’s decision to shift from a single wholesale network to a dual network model. After the agreement, the four telcos collectively own 65.12 per cent of DNB. Meanwhile, the Government of Malaysia, via MoF Inc., currently holds 34.88 per cent along with a special share.

STT GDC raises $1.3 billion from KKR-led consortium with Singtel (Singapore)

ST Telemedia Global Data Centres (STT GDC) has announced the signing of definitive agreements under which a KKR-led consortium of KKR and Singtel will invest $1.3 billion in STT GDC. The transaction comprises an initial $1.3 billion investment by the consortium via redeemable preference shares, with detachable warrants. Upon exercise of the warrants in full, the consortium will invest an additional $920 million. The proceeds of the investment will be used to further advance STT GDC’s position in the markets it operates in, and to support its continuing international expansion and growth plans through organic and inorganic strategies. Following the transaction, ST Telemedia will continue to be the majority shareholder of STT GDC.