KUALA LUMPUR/SINGAPORE/MUMBAI/HONG KONG (Sept 14): PT XL Axiata, the Indonesian wireless carrier, fell to the lowest in nearly a year after people with knowledge of the matter said its Malaysian parent company is planning to sell part of its stake. Shares of XL Axiata dropped as much as 4.9% on Tuesday and were down 3.4% to 2,560 rupiah at 12:29 a.m. in Jakarta, headed for their lowest close since October 2015. Axiata, based in Kuala Lumpur, is seeking a buyer for about 11% of Indonesian unit XL Axiata, according to the people. The Malaysian company owns 83.3% of Dialog Axiata in Sri Lanka and 95.3% of Cambodian subsidiary Smart Axiata, according to its annual report. It also owns 66.4% of its Indonesian unit XL Axiata, whose shares have fallen 26% this year.

Source: The Edge Markets September 14, 2016 05:15 UTC