SingTel injects more money in OpenNet

Telecompaper.com, 27 Apr 2011
Singapore Telecommunications (SingTel) has subscribed for more shares in national fibre network operator OpenNet. SingTel's wholly-owned subsidiary, SingTel Interactive, has subscribed for and has been allotted 6 million shares in the capital of OpenNet at a subscription price of SGD 1.00 per share, which was arrived at taking into account the working capital requirements of OpenNet. The remaining shares in the capital of OpenNet are held by Axia NGNetworks Asia, SPH Net, and SPT Net. Following the subscription, SingTel Interactive's shareholding in OpenNet remains at approximately 30 percent. Link