Jakarta - Axiata Investments (Indonesia) Sdn. Bhd. (Axiata) signed a share purchase agreement to sell 533,409,349 shares of PT XL Axiata Tbk (EXCL) or 5% of the company's total issued and paid-up capital to Ferrymount Investments Limited (Ferrymount) on September 27, 2021.

"This share sale does not take into account the company's treasury shares to Ferrymount Investments Limited," said XL Corporate Secretary Ranty Astari through the IDX information disclosure on Monday (27/9).

The sale of the shares will be completed in October 2021, or another date agreed by Axiata and Ferrymount, Ranty said. In addition, Ferrymount provides a call option for XL's share purchase price of Rp2,700 per share.

The consideration for the disposal of Rp2,700 per share is a discount of approximately 5% from the one-month volume-weighted average market price (VWAP) of XL shares until September 23, 2021, at Rp2,847.

Axiata can exercise the call op