Sarana Menara purchases 13.32% shares from shareholders for US$406 million

JAKARTA (TheInsiderStories) – Publicly listed tower operator, PT Sarana Menara Nusantara Tbk (IDX: TOWR) purchase 1.35 billion shares or representing 13.32 percent of the total issued and paid up shares in the company from the shareholders. The purchase agreement has signed on April, 28 after the private placement hase been launched on April, 21.

Based on the disclosure to the Indonesia Stock Exchange on Wednesday (3/5), the 12 shareholders raised funds Rp5.40 trillion (US$406.15 million) from the share sale. Previously, TOWR announced the price of the placement Rp4,000 per share from the indicative price Rp 4,000 to Rp 4,500 a share.

The parties involved in the transaction namely 28th Street Ventures, LLC 3.70 percent, FC Managers Asia Ltd. Co., 1.54 percent, Suma Investments Ltd. Co., 1.47 percent, Tiger Global Investment, L.P. 4.32 percent, Tybourne Equity Master Fund 0.85 percent, Tyboune Long Opportunities Master Fund 0.60 percent, Blackwell Partners LLC- Series A 0.06 percent, Murillo Uchoas Dos Santos Penchel 0.31 percent, Blake Rosen 0.18 percent, Deemer A. Dana 0.11 percent, William McCarrol 0.06 percent and Lydia Sumardi 0.03 percent.

In addition, PT Sapta Adhikari Investama(holding company for the Djarum Group) as a principal shareholder of the company and the selling shareholders–subject to certain exceptions–including for up to 10 percent of the company’s shares for merger and acquisition transactions to lock-up for a period of 6 months .