PT XL Axiata Tbk (EXCL) conveyed the continuation of seeking funding through the capital market, namely the Implementation Plan for Capital Increase without Providing Pre-emptive Rights or private placement.

This private placement already got shareholders' approval in the EXCL Extraordinary General Meeting of Shareholders (EGMS) on March 10, 2016.

According to the company's disclosure of information to the IDX, the EGMS approved the 2016-2020 Long Term Incentive Program (LTI Program 2016-2020) through a private placement with a maximum issuance of 265,000,000 shares of new shares.

XL Axiata Corporate Secretary Ranty Astari Rachman said, referring to this, also connected with the award distribution schedule for the 2016-2020 LTI Program for Grant Cycle 3, XL Axiata will issue new shares through a private placement with a total of 18,662,246 shares to LTI participants.

"The issuance of the shares is planned to be listed on March 9, 2021," said Ranty, as quoted from the IDX disclosure, on Wednesday (3/3).