Axiata surges as wireless carrier said to mull US$500m tower IPO

Kuala Lumpur

AXIATA Group Bhd rose the most in more than two years after people with knowledge said Malaysia's biggest wireless carrier is considering an initial public offering of its tower unit that could raise at least US$500 million.

Shares of Axiata climbed as much as 6.6 per cent on Friday, the most since August 2015.