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CK Hutchison and Ooredoo to co-control Indosat

17 September 2021 09:34

JAKARTA – CK Hutchison Indonesia and Ooredoo South East Asia would cooperate in controlling HoldCo, the current owner of 65.64% of the shares of PT Indosat Ooredoo Tbk (ISAT), following the merger between said companies and ISAT internal restructuring process.

In the information disclosure quoted today (17/9), Gilang Hermawan, Corporate Secretary of Indosat Ooredoo, confirms that his company and PT Hutchison 3 Indonesia (H31) had signed a conditional agreement with CK Hutchison Holding Limited and Ooredoo South East Asia Holding WLL regarding the company merger plan. “The business merger notification has been sent to the Financial Services Authority (OJK) today (17/9). The plan had also obtained approval from ISAT and H31’s directors and commissioners yesterday (16/9),” he further announces.

As of now, the shareholder structure of ISAT is made up of HoldCo with 65%, the government with 1 Series A share, PT Perusahaan Pengelola Aset (Persero) (PPA) 14.29%, and public 20.71%. On the other hand, H31’s shareholder structure comprises CK Hutchison Group of 66.98% and PT Tiga Telekomuniasi Indonesia (TTI) 33.02%.

After the merger, ISAT’s authorised capital would amount to IDR 2 trillion, issued and paid-up capital IDR 806.27 billion, and unreleased shares IDR 1.19 trillion. The shareholder composition would consist of HoldCo with 43.81%, the government with 1 Series A share, PPA 9.63%, public investors 13.96%, CK Hutchison Group 21.84%, and TTI 10.77%. Then, these shareholders would partake in the internal restructuring process in ISAT. (LK/ZH)

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