JAKARTA. The offering price of PT Dayamitra Telekomunikasi’s (Mitratel) stock is set to IDR 800 per share for its IPO. Thus, Mitratel is projected to collect IDR 20.43 trillion in total by the end of its debut.
By issuing shares of 25,540,000,000 units, equal to 29.85% of its entire issued and paid-up capital, the company would end up with fresh funds of IDR 20.43 trillion.
The public offering period had been scheduled from November 16 to 18, 2021, while the listing would take place on November 22, 2021.
The company would allocate 44% of the IPO proceeds to its organic capital expenditure. It includes adding collocation services through strengthening and building more telecommunication towers, constructing new towers, preparing new sites, and expanding to technologies and services that could synergise with the tower leasing business.
Meanwhile, another 56% would be channelled to inorganic capital expenditure. It would be spent on acquiring telecommunication towers from telecommunication operators and new products, technologies, and services that could be integrated smoothly into the tower leasing business. (AM/ZH)