Breaking News-Maxis Said to Sell Stock at 5 Ringgit Apiece to Institutions

By Soraya Permatasari
Nov. 10 (Bloomberg) -- Maxis Communications Bhd. agreed to sell shares of its flagship unit, Malaysia’s biggest mobile- phone operator, at 5 ringgit apiece ($1.48), according to three people familiar with the matter.
The people asked not to be identified before a public announcement. The Kuala Lumpur-based company planned to sell
2.25 billion shares of Maxis Bhd. for 5 ringgit to 5.50 ringgit apiece, according to an e-mail from arranger CIMB Investment Bank Bhd. sent to investors yesterday.