Indonesia’s Tower Bersama Infrastructure (TBIG) has scheduled an extraordinary meeting for permission to issue new shares equivalent to 10% of its enlarged capital.
Shareholders have being asked to approve the issue of 479.65 million new shares on 22…
Indonesia’s Tower Bersama Infrastructure (TBIG) has scheduled an extraordinary meeting for permission to issue new shares equivalent to 10% of its enlarged capital.
Shareholders have being asked to approve the issue of 479.65 million new shares on 22 December, according to adverts in two local papers.
TBIG’s shares were trading at around Rp9,400 (US$0.77) as TelecomFinance went to press. Its largest shareholder is Wahana Anugerah Sejahtera with a 30% stake, followed by Provident Capital Indonesia with 28.75%.
Edwin Soeryadjaya, TBIG’s president commissioner, has been a major owner of the company since 2004.
TBIG was also recently reported to be seeking a US$1bn multi-tenor financing, just months after securing a US$300m revolving credit facility in July.
The group and its top two towerco rivals, Sarana Menara Nusantara and Solusi Tunas Pratama (STP), now own around half of the telecom towers in the country following a wave of activity in the sector.
Indonesia’s largest mobile players, Telkom and XL Axiata, have both recently said they would consider selling more of their sites.
XL Axiata sold 3,500 towers to STP in October for US$460m and, earlier that month, TBIG took a 49% stake in Telkom’s tower unit Mitratel under a share swap deal.
Meanwhile, Indonesian ISP Centratama Telekomunikasi, formerly Centrin Online, aims to raise nearly Rp300bn (US$24.7m) in a rights issue to develop telecom towers, according to reports citing local publication Investor Daily.
The company reportedly plans to issue 1.48 billion new shares at Rp200 (US$0.016) each.
