Indonesian investment firm Kharisma Putra Prima has sold its 14.86% stake in locally-listed towerco Solusi Tunas Pratama (STP) for about Rp1.18trn (US$91.2m).
The group said in a stock exchange filing that it had exited STP after selling roughly 169…
Indonesian investment firm Kharisma Putra Prima has sold its 14.86% stake in locally-listed towerco Solusi Tunas Pratama (STP) for about Rp1.18trn (US$91.2m).
The group said in a stock exchange filing that it had exited STP after selling roughly 169 million shares on the market at Rp7 each.
The move comes shortly after the towerco launched a US$300m bond, with proceeds going towards refinancing a US$790m bridge loan that backed its acquisition of towers from local mobile player XL Axiata.
STP said in October that it had bought 3,500 towers from the operator, which has said it could sell a further 4,500-5,500 sites this year depending on its financial situation.
