Jakarta, October 26, 2021 – PT Dayamitra Telekomunikasi Tbk or Mitratel, a company the largest telecommunications tower in Indonesia, held an initial public offering (Initial Public Offering/IPO) by offering a maximum of 29.85% shares to public. This is part of efforts to develop the business, create value that optimal for the company and stakeholders and to create a telecommunications ecosystem for digitization to remote corners of the country.
This subsidiary of PT Telkom Indonesia (Persero) Tbk (Telkom) appointed PT BRI Danareksa Securities, HSBC, JP Morgan, PT Mandiri Sekuritas, and Morgan Stanley as joint bookrunners and joint global coordinators. BRI Danareksa Sekuritas with Mandiri Sekuritas also acts as joint lead managing underwriters and domestic underwriters. The roadshow and initial offering (bookbuilding) of Mitratel shares is scheduled on 26 October – 4 November 2021. An effective statement from the Financial Services Authority (OJK) is expected published on November 12, 2021. After obtaining an effective statement from the OJK, the offer general public will be held on 16-18 November 2021 and the listing of shares on the Stock Exchange Indonesian Stock Exchange (IDX) on November 22, 2021.
As planned, the Company will use 40% of the proceeds from the IPO for capital expenditure organic capital expenditure, 50% for inorganic capital expenditure, and 10% for working capital as well as other needs of the Company.
SOE Minister Erick Thohir highly appreciates Telkom for having successfully brought one of its subsidiaries, namely Mitratel, into a tower company open telecommunications. “Mitratel’s IPO is expected to have a positive impact on sustainable for Mitratel, TelkomGroup, BUMN and also the state. Hopefully Mitratel can building market leadership in the tower provider industry which is the infrastructure national telecommunications by SOEs and subsidiaries to strengthen digital resilience national.”
The Minister of SOEs also added that Mitratel could attract investors to invest funds in Indonesia to strengthen the national economy and job openings. Mitratel is also expected to be an independent company and national pride with transparent governance, capacity building as well as the flexibility to be more aggressive in pursuing business growth opportunities significant.
On a separate occasion, Telkom President Director Ririek Adriansyah explained that the IPO This MItratel is one of the portfolio arrangements carried out by TelkomGroup to optimizing value creation from Mitratel so that it can provide optimal results for stakeholders. “As the provision of telecommunications tower infrastructure for 13 years, Mitratel has more than 28 thousand towers, with an experienced management team and good track record in delivering cyclical growth of the industry in Indonesia.
Going forward, Mitratel has good growth potential along with developments technology especially with the presence of 5G which makes the operator’s need for towers telecommunications is increasing. Hopefully this step will strengthen Mitratel’s steps to become a player the largest independent telecommunications tower not only in Indonesia but also in Southeast Asia,” added Ririek.
Mitratel has a wide range of services and a strong telecommunications business ecosystem complete. The company has also aggressively expanded its business, one of which is through the TelkomGroup fiber optic solution, which is not owned by the tower company other telecommunications. With such an adequate fiber optic network, Mitratel is expected to take a role in supporting the optimization of digital economic progress in Industry 4.0, along with the 5G network and economic equity.
Meanwhile, the Managing Director of Mitratel, Theodorus Ardi Hartoko said that today is a historic day for Mitratel, who is just a few steps away from making dreams come true to become a public company. “Through this IPO, it is hoped that it will increase attention” regional and international investors towards Mitratel, and of course inviting the public broadly to be part of the success of building a better Indonesia through digitization,” he said.
Currently, Mitratel has an attractive and robust business model with revenue visibility high, because it is supported by high quality customers. Evidently, the Company has Attractive financial profile with ever-increasing margins, strong cash flow capabilities strong, as well as a leading financial position in the telecommunications tower industry.
Going forward, Mitratel plans for a long-term expansion into the Southeast Asian market and Asia Pacific. “In line with the vision to be the best leader and provider in providing telecommunications infrastructure in Southeast Asia, Mitratel is also preparing a strategy for long-term expansion in Southeast Asia and Asia Pacific. We will continue providing infrastructure solution services with excellent quality and competitive prices, in order to provide high value for investors,” concluded Teddy.
