Maxis share price rises after 5G agreement announcement

KUALA LUMPUR, July 17 — Maxis Bhd share price on Bursa Malaysia rose during the morning session today after the telecommunication company finally announced its plan to sign the 5G access agreement with Digital Nasional Bhd (DNB).

At lunch break, Maxis share price gained three sen to RM4.08 with 375,000 shares traded.

Public Investment Bank Bhd (PIVB) in a note today has maintained its neutral rating on Maxis following the announcement.

“This marks a significant milestone for the industry as Maxis was the only mobile network operator that had yet to sign a wholesale agreement with DNB,” it said.

Last Friday, Maxis said it intended to execute the agreement to gain access to the 5G products and services provided on a wholesale basis by DNB, including the national 5G wholesale network product.

The access agreement is expected to be executed by Maxis Broadband, a wholly owned subsidiary of Maxis, after it has obtained shareholders approval at an extraordinary general meeting expected to be convened in the third quarter of 2023. — Bernama


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