JAKARTA. PT Dayamitra Telekomunikasi Tbk or Mitratel, a subsidiary of PT Telkom Indonesia (Persero) Tbk (TLKM), might potentially raise fresh funds a maximum of IDR 24.9 trillion from its initial public offering (IPO) in Indonesia Stock Exchange (IDX).
The number of shares released to the public by Mitratel amounts to 24.54 billion shares, which is equal to 29.85% of its entire issued and paid-up capital after the IPO. Each share has a face value of IDR 22 and would be offered for IDR 755 to IDR 975 per unit.
Theodorus Ardi Hartoko, President Director of Mitratel, claimed that this corporate action would support the company’s plan to expand its telecommunication infrastructure business. “This IPO is intended to attract regional and international investors toward Mitratel while firmly encouraging the public to become a part of our success in creating a better Indonesia through digitalisation,” he ambitiously stated earlier today (26/10).
Through a public expose today (26/10), Mitratel announced its plan to use 40% of the IPO proceeds as a budget for its organic capital expenditure. Then, another 50% would be allocated to inorganic capital expenditure, while the remaining 10% would be spent on enhancing working capital and fund operational needs.
The bookbuilding process over Mitratel’s fresh shares would last from October 26 to November 4, 2021. After receiving an effective statement from the Financial Services Authority (OJK), the public offering would start on November 16 and end on November 18, 2021. The recording in IDX would follow on November 22, 2021.
For the record, Mitratel has initiated the telecommunication tower business since 2008. Now, it currently manages over 28,000 units of telecommunication towers spread across various regions in Indonesia. (KR/ZH)