KUALA LUMPUR (March 13): PT Inovisi Infracom Tbk of Indonesia is believed to have taken up a 9.09% stake in NEXTNATION COMMUNICATION BHD [] under the latter’s private placement exercise.
A filing with Bursa Malaysia on Tuesday showed that Anguilla-registered Great World Ltd – believed to be a subsidiary of Inovisi Infracom – had taken up the block of 41.58 million shares.
The issue price for the placement of 41.58 million new Nextnation was 11.5 sen per placement share. This was about 6% above the five-day volume weighted average market price of Nextnation shares up to and including March 1 of 10.85 sen.
Nextnation’s core business is to provide end-to-end mobile application services connecting to 500 mobile networks, supporting thousands of developers and distributors.
Great World Ltd is an information TECHNOLOGY [] company which is based in Malaysia. As of Nov 15, 2010, Great World Ltd operates as a subsidiary of Inovisi Infracom, which is based in Jakarta.
According to Inovisi Infracom’s website, it is a diversified infrastructure investment holding company with business in telecommunication, energy & resources, oil & gas, power electricity & engineering, shipping & logistic, real estate investments, toll road concessions, Internet, media and e-commerce businesses.
A filing with Bursa Malaysia on Tuesday showed that Anguilla-registered Great World Ltd – believed to be a subsidiary of Inovisi Infracom – had taken up the block of 41.58 million shares.
The issue price for the placement of 41.58 million new Nextnation was 11.5 sen per placement share. This was about 6% above the five-day volume weighted average market price of Nextnation shares up to and including March 1 of 10.85 sen.
Nextnation’s core business is to provide end-to-end mobile application services connecting to 500 mobile networks, supporting thousands of developers and distributors.
Great World Ltd is an information TECHNOLOGY [] company which is based in Malaysia. As of Nov 15, 2010, Great World Ltd operates as a subsidiary of Inovisi Infracom, which is based in Jakarta.
According to Inovisi Infracom’s website, it is a diversified infrastructure investment holding company with business in telecommunication, energy & resources, oil & gas, power electricity & engineering, shipping & logistic, real estate investments, toll road concessions, Internet, media and e-commerce businesses.
