March 22nd, 2018

Axiata share price down slightly after buying stake in Sri Lankan data centre firm

Axiata Group Bhd’s share price fell 0.18% this morning following news that its unit is acquiring a 35% stake in data centre company Digital Reality (Private) Ltd (DRPL) for 262.5 million Sri Lankan rupees (RM6.55 million) cash to form a data centre business in Sri Lanka.

At 11.08am, Axiata stood at RM5.48 with 882,800 shares changing hands.

The group yesterday said Dialog Broadband Networks (Private) Ltd (DBN) has entered into a deal with St Anthony’s Property Developers (Private) Ltd (SAPD) for the stake acquisition.

DBN, which is Sri Lanka’s second largest fixed telecommunications provider, is a wholly owned subsidiary of Dialog Axiata Plc which in turn is an 83.32% subsidiary of Axiata.

SAPD is a member of St Anthony Group and is the main developer of Sri Lanka’s largest privately held IT park, “Orion City”.

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