JAKARTA – The Indonesia Stock Exchange (IDX) has officially delisted PT Smartfren Telecom Tbk (FREN) from its trading board as of April 17, 2025.

The delisting is part of a merger process involving FREN and its subsidiary, PT Smart Telecom (ST), into PT XL Axiata Tbk (EXCL).

Pande Made Kusuma Ari A., Head of IDX’s Trading Regulation and Operations Division, stated that the shares resulting from the merger have been listed on the main board of the IDX, with an addition of 5.07 billion new EXCL shares. This brings EXCL’s total shares to 18.19 billion, each with a nominal value of IDR 100.

The merger conversion ratios are 1 FREN share for 0.011 EXCL shares, and 1 ST share for 0.005 EXCL shares.

The merger was conducted in accordance with IDX Regulation No. I-G and was approved by the Ministry of Law and Human Rights through Decree No. AHU 0026805.AH.01.10.TAHUN 2025, dated 16 April 2025. The decree also authorised the amendment of the articles of association of PT XL Smart Telecom Sejahtera Tbk, the new legal name of EXCL.

With the merger now effective, FREN shares are no longer tradable on the IDX as of April 17, 2025. (EF/ZH)