Telkom Indonesia tower unit readies IPO - Mobile World Live

Telkom Indonesia tower unit readies IPO

27 OCT 2021
tower

Dayamitra Telekomunikasi (Mitratel), the tower unit of state-owned Telkom Indonesia, accelerated its expansion by raising funds in an IPO which Nikkei Asia reported could amount to as much as IDR24.9 trillion ($1.8 billion).

The tower company is running an IPO roadshow until 4 November, with the listing expected on the Jakarta stock exchange later in the month, the newspaper reported, adding executives explained the majority of the funds will go to infrastructure acquisitions, including 6,000 sites not held by the Telkom group.

Mitratel investment director Hendra Purnama reportedly revealed plans to look at fibre, IoT and other 5G-supporting assets, with Abu Dhabi and Singaporean sovereign wealth funds among the key investors.

After acquiring 4,000 towers in September from Telkomsel, which is 100 per cent owned by Telkom Indonesia, the tower company’s holdings increased to 28,000 sites across Indonesia.

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Joseph Waring

Joseph Waring joins Mobile World Live as the Asia editor for its new Asia channel. Before joining the GSMA, Joseph was group editor for Telecom Asia for more than ten years. In addition to writing features, news and blogs, he...

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