Dialog to launch Rs. 15.54 billion Rights Issue

Dialog will launch a Rights Issue aimed at raising Rs 15.54 billion (Approximately USD 142.63 Million) to fund the aggressive expansion plans of the company.

The proposed rights issue will provide ordinary shareholders of the company with an entitlement to one ordinary share for every ten ordinary shares held, at a price of Rs. 21 per share, inclusive of a premium of Rs.20 per share.

The Rights Issue is expected to be submitted for approval by the shareholders at an Extraordinary General Meeting scheduled to coincide with the company's AGM.

The Directors of Dialog Telekom Limited, at a meeting held on Thursday resolved to make such offer to the holders of the issued Ordinary Shares of the Company as at the forthcoming EGM date, which would be announced in due course.

The new Ordinary Shares issued through the Rights Issue will rank pari passu in all respects with the existing issued Ordinary Shares of the Company including the right to participate in any dividend declared by the Company on its Ordinary Shares.

The Dialog Telekom Rights Issue is expected to attract substantial interest from Dialog's shareholders spanning foreign institutional, domestic institutional and domestic retail segments.