AXXTF - Axiata Group: All Eyes On Corporate Actions
Elevator Pitch
I maintain a "Neutral" rating for Malaysia-listed Axiata Group Berhad (AXXTF) [AXIATA:MK]. Planned and potential corporate actions could play a significant role in the company's share price movements and valuations in the coming months.
Bangladeshi subsidiary Robi's IPO is scheduled to take place in 4Q2020, and there are expectations that establishing a market-based valuation for Robi could eventually help in the positive re-rating of Axiata's valuations. Separately, Axiata Group is seeking strategic partners for its digital businesses, while a listing of its tower company is put on hold for the time being. Also,