Digital Nasional Berhad has announced that it has completed the Share Subscription Agreements with four mobile network
operators in Malaysia, namely CelcomDigi Berhad through Infranation Sdn Bhd, Maxis Broadband Sdn Bhd, U Mobile Sdn Bhd and YTL Communications Sdn Bhd through YTL Power International Bhd.
Under the terms of the SSAs, the four MNOs collectively acquired approximately 65.1% equity stake in DNB, with each MNO holding approximately 16.3% stake. The Malaysian Government, represented by the Minister of Finance (Incorporated) retains approximately 34.9% stake and a Special Share in DNB for a designated period.
This follows the satisfaction of the conditions precedent under the SSAs on 20 June 2024 for all four MNOs to increase their equity stake in DNB. For Telekom Malaysia Berhad the conditions precedent longstop date is 21 August 2024. Assuming TM
successfully completes the SSA, MoF Inc.’s stake will reduce to 30%, with the MNOs collectively holding a 70% stake in DNB.
On 1 December 2023, DNB and MoF Inc. entered into SSAs with five MNOs, thereby enabling the MNOs’ participation in DNB through equity ownership.
