Malaysia’s Time DotCom has sold 3.6 per cent stake in DiGi.Com for MYR604.95 million via a private placement.

Malaysia’s Time DotCom has sold 3.6 per cent stake in DiGi.Com for MYR604.95 million via a private placement. Following the sale, Time’s 7.1 per cent stake in DiGi has been reduced to 3.5 per cent. The proceeds from the sale will be used to repay bank borrowings of MYR552.7 million, and the remainder will be used as working capital.