JAKARTA. Axiata Group Berhad, alongside one of its subsidiaries in Indonesia, PT XL Axiata Tbk (EXCL), would acquire 66.03% of PT Link Net Tbk’s (LINK) shares currently owned by PT First Media (KLBV) and Asia Link Dewa Pte Ltd.
Johannes, Corporate Secretary of Link Net, claims that Axiata and XL have recently signed the term sheet that is yet to be legally binding regarding the takeover of 1.82 billion units of Link’s shares today (30/7). More specifically, 29.04% of the shares are going to be acquired from KLBV, while the other 36.99% are from Asia Link.
“The transaction arrangement is still being negotiated among FM (First Media), ALD (Asia Link Dewa), XL (EXCL), and Axiata, which would subsequently call for a definitive agreement signing,” Johannes further explains in the information disclosure in Indonesia Stock Exchange today (30/7).
As an additional record, this corporate action had been announced by LINK management in early July 2021. This plan is related to its business expansion in the future that requires support from the veteran player in the telecommunication and provider business.
Based on idnfinancials.com data, LINK’s stock price during today’s closing climbs 1.55% or 70 points to IDR 4,600 per share. The number of shares circulating in the transaction is reported to amount to 11.6 million units, clocking up to IDR 53.25 billion in total. (KR/ZH)