01 February 2024
ISP Link Net is reportedly planning to raise up to US$500 million by selling a stake in its fibre business as it gears up to expand its network coverage.
According to Bloomberg, citing anonymous sources, Link Net wants to raise funds to expand its network. The ISP has been looking for an adviser to help it sell shares worth between US$400-500 million.
The news comes one month after Link Net’s parent company, Axiata group, announced that Link Net would transfer its fixed-broadband business to mobile operator XL Axiata and continue as a wholesale fibre company. As part of the deal, Link Net is set to roll out fibre to pass an additional 2 million new homes, bringing its total coverage to 6.5 million homes passed.
