PROJECT

Projects

Summary of Investment Information

Project Number

46205

Company Name

DIALOG AXIATA PLC

Date SPI Disclosed

Jun 23, 2022

Country

Sri Lanka

Region

South Asia

Projected Board Date

May 27, 2022

Environmental Category

B - Limited

Status

Active

Last Updated Date

Jul 1, 2022

Department

Regional Industry - INF Asia & Pac

Industry

Telecommunications and Technology

Previous Events

Approved : May 27, 2022
Signed : Jun 21, 2022
Invested : Jun 29, 2022

Sector

Mobile Telephony

Project Description

Dialog Axiata PLC (Dialog, or the Company) is Sri Lanka’s leading mobile network operator and is listed on the Colombo Stock Exchange. Dialog operates primarily within Sri Lanka and has offerings in mobile & fixed telephony, broadband, satellite television, infrastructure services and other digital services. As of 2021, Dialog had a total of 17.7 million mobile subscribers (representing approximately 51% market share) and has achieved a 4G mobile population coverage of 95% and a 4G fixed broadband population coverage of 71%.

 

Dialog has been proactively expanding its 4G mobile and fixed broadband capacities over the past years. IFC’s A Loan, in combination with Dialog’s operational cash flows and existing cash balances are expected to meet Dialog’s funding needs for the next two years, comprising both capital costs of upgrades to Dialog’s core network, 4G coverage and capacity expansion, and spectrum acquisition, as well as refinancing of Dialog’s US dollar loans maturing in 2022 and 2023.

 

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation