TM International sets rights issue price

Malaysian mobile phone operator TM International yesterday announced the terms for its earlier announced M$5 25 billion ($1 4 billion) rights issue and said the portion of the deal that will not be taken up by its largest shareholder, Khazanah Internasional, will be fully underwritten by three domestic banks

This should come as a relief to investors who have sold the stock since the initial announcement amid concerns about the scale of the transaction and the lack of a firm underwriting commitment, among other things Only in the past three sessions has the share price managed a bit of a rebound, which sources say may be partly due to the management's reassurances about...