DiGi to return RM509m to shareholders

DiGi.Com Bhd, Malaysia’s third- largest mobile phone operator, plans to return cash to shareholders including Norway’s Telanor ASA after receiving a RM509 million (US$170 million) payment from a unit.

The company also said investors will receive 10 shares for each one they currently own in a proposed split to make the stock more affordable and boost liquidity, according to stock exchange filings today.

DiGi, 49-percent owned by Telenor will make the payment to shareholders by the first half of 2012 as it depreciates more than 1 billion ringgit of equipment and upgrades its network.