KUALA LUMPUR, Oct 27 — Bursa Malaysia Securities Bhd has approved the listing of and quotation for 3.96 billion new ordinary shares in Digi.com Bhd to be issued pursuant to the proposed merger with Celcom Axiata Bhd.

In a filing with Bursa Malaysia, Digi said must first fully comply with the relevant provisions under the listing requirements pertaining to the implementation of the proposed merger.

"Digi must comply with the public shareholdings spread requirements pursuant to Paragraph 8.02 of the listing requirements upon the listing of and quotation for the new Digi shares to be issued pursuant to the proposed merger,” it said.

On April last year, Axiata said as part of the merger transaction, the company would receive newly issued shares in Digi, representing 33.1 per cent post-transaction shareholding and cash equalisation amount of around RM2 billion, of which RM1.7 billion would come from Digi as new debt while the balance of RM300 million will come from Telenor.

According to Axiata, the merged entities will continue to be listed on Bursa Malaysia and is expected to improve the liquidity and profile of the bourse as one of the largest technology companies in Malaysia and among the largest market capitalisation companies in the exchange.

Axiata said MergeCo will be considered as a leading telecommunications service provider in Malaysia in terms of value, revenue and profit; with a proforma revenue of about RM12.4 billion, pre-synergy earnings before interest, taxes, depreciation, and amortisation (Ebitda) of the combined entity at approximately RM5.7 billion and an estimated 19 million customers. — Bernama