Original disclosure @ IFC website
Updated in EWS Nov 3, 2022
Disclosed by Bank Jun 23, 2022
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According to IFC, the proposed investment is a US$150 million loan to Dialog for refinancing existing loans and to support the company’s capex program, including 4G roll-out, which is mainly putting new equipment on existing and future sites, fiber roll-out, radio and core network upgrades, software, IT Network expansions, and Spectrum expansion (the “Project”). This is an IFC repeat investment in Dialog Axiata; the previous investment (# 25747) was in 2007 and closed in 2018.Dialog currently has around 4000 telecom towers, out of which around 40 percent (~1600) are shared towers owned by other operators. The company has plans for additional 300-400 towers which are still in planning stage (either directly or preferably sharing existing towers of other operators). The new investment does not include any new submarine cable construction or extension.Dialog has multiple subsidiaries, including Dialog Network Services (DNS), which provides Dialog with services related to telecom network development, upgrades, operations, and maintenance.
Dialog is majority owned (83%) by the Axiata Group Berhad based in Malaysia, while the remaining shares are listed on the Colombo Stock Exchange.
Dialog Axiata PLC (Dialog, or the Company) is Sri Lanka’s leading mobile network operator and is listed on the Colombo Stock Exchange. Dialog operates primarily within Sri Lanka and has offerings in mobile & fixed telephony, broadband, satellite television, infrastructure services and other digital services. As of 2021, Dialog had a total of 17.7 million mobile subscribers (representing approximately 51% market share) and has achieved a 4G mobile population coverage of 95% and a 4G fixed broadband population coverage of 71%.
Dialog Axiata PLC
Mr. Hashan Senanayake
Unit Manager – Group Corporate Finance
+94 777 080748 / +94 777 332052
No 475, Union Place, Colombo 02
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