Tower Bersama Group, an Indonesian telecom tower conglomerate, could raise as much as Rp1.6 trillion (US$179m) for its IPO scheduled in October, according to a Reuters report.
The IPO share price range has been set at Rp1675-Rp2100 (US$0.18-US$0.23)….
Tower Bersama Group, an Indonesian telecom tower conglomerate, could raise as much as Rp1.6 trillion (US$179m) for its IPO scheduled in October, according to a Reuters report.
The IPO share price range has been set at Rp1675-Rp2100 (US$0.18-US$0.23). Reuters explains that 755 million new shares, representing about 15.86% of the enlarged share capital, would be offered. The IPO will value the company at between US$882m and US$1.12bn, according to the news agency.
Tower Bersama is owned by US private equity firm Saratoga Capital. The underwriters of the deal are reportedly UBS and Indo Premier Securities. Tower Bersama was quoted as saying it would use the proceeds of the IPO to build towers and for other capex.
Tower Bersama and Indo Premier Securities could not be reached for comment. UBS did not return phone calls before press time.
