HONG KONG: Malaysian wireless carrier Maxis Bhd plans to raise up to RM1.73 billion in a share offering to pay down debt and finance the potential acquisition of mobile phone waves, International Financial Review (IFR) reported on Monday, citing a term sheet of the transaction.

The company is offering 300 million new shares in the primary offering in an indicative range of RM5.52–5.75 each, putting the total deal at up to RM1.73 billion, added IFR, a Thomson Reuters publication.

Maxis did not immediately reply to a Reuters request for comment on the share sale plan. The company earlier requested trading of its shares to be halted, pending a material announcement. It did not disclose further information.