Home Industry Telecoms Etisalat Raises $510m From Axiata Stake Sale UAE telecommunications operator Etisalat sold 775 millions of its shares in Axiata. by Reuters September 13, 2012 Etisalat, the UAE’s biggest telecommunications company, raised about $510 million from the sale of a stake in Indonesia’s PT XL Axiata. The company sold 775 million shares at 6,300 rupiah each, putting the deal at 4.88 trillion rupiah ($510.03 million), according to a term sheet of the offering seen by Reuters on Thursday. The shares were priced at a discount of six per cent to Wednesday’s close, after having been marketed in a range of 6,100 to 6,300 rupiah each. JPMorgan and Morgan Stanley managed the share sale. Tags Etisalat 0 Comments You might also like Take a look: e& unveils recycled ‘green’ SIM cards UAE’s etisalat by e& attains TM Forum’s silver certification for Open API conformance UAE’s e& eyes further expansion, acquires Czech PPF Group’s telecom assets Etisalat by e& launches ‘Apps 360’ to digitally empower businesses