XL to launch secondary share offer by 2009

Indonesia’s third largest mobile operator by subscribers Excelcomindo (XL) says it plans to launch a secondary share offering by 2009, placing between 10% and 15% of its share capital with the public through the process. Reuters quotes company president Hasnul Suhaimi as saying that part of Malaysian mobile phone firm TM International's equity holding will be sold in the secondary offering. [more, telegeograhy]