JAKARTA (TheInsiderStories) – The state-owned company, PT Telkom Indonesia Tbk (IDX: TLKM) it would bring two subsidiaries to list the shares (IPO) in this year, the director announced yesterday. One on the units will list the shares in the Asian stock exchange.
According to the strategic portfolio director, Budi Setyawan Wijaya, some of the subsidiaries have been listed in Japan and Australia. Previously, the state own enterprises (SOEs) ministry had mentioned the telco operator will spin off several of its infrastructure’ unit through the capital market, which is part of corporate restructuring.
Tower operator, PT Dayamitra Telekomunikasi (Mitratel), is one of the candidates to go IPO in the capital marketin the last quarter of this year or no later than the first quarter of 2022. The subsidiary engaged in the provision of telecommunications infrastructure across the archipelago with a total of more than 22,000 towers.
After the IPO, the provider has the potential to become the largest telecommunications tower company in Indonesia, with 34,025 towers after acquired 18,000 towers are owned by its sister company, PT Telekomunikasi Selular. Beside Mitratel, said Setyawan, there are a lot of potenti of digital startups under PT MDI Ventures, an investment managers under the group. The unit have invested in 50 companies. The shares will be offered to global investors through the Indonesia Investment Authority, a sovereign wealth fund formed by President Joko Widodo’ administration.
Last year, Telkom has spent Rp36.59 trillion (US$2.59 billion) or 27.0 percent of total revenue for business expansion. Beside build new base transceivers, the company joined with private tower operator, PT Protelindo, have acquired 3.100 towers of PT Indosat Ooredoo Tbk (IDX: ISAT) for Rp6.39 trillion.
The publicly listed firm also injected more capital to its venture capital armed, PT MDI Ventures of $500 million to widens the digital business. The telco and network provider currently owned and operated 11 data centers in Indonesia under its subsidiary TelkomSigma.
In Singapore and Hong Kong, the operator owned four data centers under Telekomunikasi Indonesia International Pte. Ltd. The construction of the new data center its expecting starting this year and will be operated by Telkomsigma.
On Feb. 26, Chinese Huawei Technologies Co., Ltd., and its unit, PT Telekomunikasi Selular have signed a memorandum of understanding to accelerate development of Digital Indonesia in Barcelona, Spain. It said, both parties will cooperate to accelerate ecosystem and infrastructure development of fully connected digital in Indonesia.
As a group, Telkom managed six businesses portfolios such as mobile, fixed line, wholesale & international, network infrastructure, enterprise digital, and consumer digital. The Government of Indonesia owned 52.09 percent Telkom shares while the remaining 47.91 percent shares belong to public.
The company shares are traded on the Indonesian Stock Exchange and on the New York Stock Exchange, which lists it as TLM.
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