JAKARTA - PT Inti Bangun Sejahtera Tbk (IBST), a company that provides telecommunication towers and infrastructure, plans to sell as many as 3 thousand of its telecommunications towers to PT Tower Bersama Infrastructure Tbk (TBIG).
Merciana Anggani, Corporate Secretary of IBST, explained that all telecommunication towers were sold at IDR 3.99 trillion. She also admitted that the transaction value was equivalent to 64% of the company's total equity as of September 30, 2020.
In the information disclosure on the Indonesia Stock Exchange (IDX), Anggani admitted that the sale of telecommunication towers was carried out to strengthen IBST's financial position. "As well as developing the company's business strategy in the future," she continued.
For details, as much as IDR 1.5 trillion from the sale will be used to pay off bank debts. Then the remaining, around IDR 2.7 trillion, will be used to support IBST business development.
According to idnfinancials.com data, 61.88% of IBST shares are owned by PT Bakti Taruna Sejati. Then, as much as 8.50% shares are owned by PT Dian Swastatika Sentosa Tbk (DSSA), and the remaining 29.62% by public investors. (KR/VA)