Jakarta, 22 November 2021 – PT Dayamitra Telekomunikasi Tbk or Mitratel is officially listed on the Indonesia Stock Exchange (BEI) with the stock code “MTEL”. This was marked by the Opening Bell Ceremony carried out by the President Director of Telkom, the President Director of Mitratel and their staff on Monday (22 /11) on the Indonesian Stock Exchange.
This subsidiary of PT Telkom Indonesia (Persero) Tbk (Telkom), which operates in the telecommunications tower business, held an initial public offering (IPO) with a total of 23.4 billion ordinary shares with a total value of IDR 18.7 trillion. The share size is set at IDR 800 per share.
Mitratel has appointed PT BRI Danareksa Sekuritas, HSBC, JP Morgan, PT Mandiri Sekuritas, and Morgan Stanley as Joint Book Runners and Joint Global Coordinators. BRI Danareksa Sekuritas together with Mandiri Sekuritas also act as Joint Lead Managing Underwriters and Domestic Underwriters. This corporate action to list Mitratel’s initial shares is part of the commitment to transformation as well as structuring the company’s portfolio to provide optimal value for Mitratel, TelkomGroup and all stakeholders.
Telkom’s President Director, Ririek Adriansyah, said, “Thank God, TelkomGroup has been able to complete an important milestone in the company’s transformation by implementing the strategy of unlocking the value of the company’s tower business through the Mitratel IPO. This step is also in line with the transformation that Telkom is currently undertaking to become a digital telco and strengthens Mitratel’s position amidst the presence of 5G which can grow operators’ need for telecommunications towers. “This will have good potential for Mitratel to become the largest independent telecommunication tower player in Southeast Asia.”
Meanwhile, Mitratel President Director Theodorus Ardi Hartoko explained that the funds from the initial public offering (IPO) will be used to develop its competencies and capabilities to become a superior, transparent, professional company.
“We understand that rapid technological changes will accelerate all of Mitratel’s competencies both now and in the future. “This has been formulated in a business plan that is not only limited to the telecommunications tower business but is developing into an infrastructure company that is ready to support the 5G era and its continuation,” he said.
According to the plan, the company will use 40% of the IPO proceeds for organic capital expenditure, 50% for inorganic, and 10% for working capital and other company needs.
Mitratel is the largest telecommunications tower company in Indonesia which was founded in 2008. Mitratel has managed more than 28,000 telecommunications towers spread throughout Indonesia. Apart from its primary business in the telecommunications tower sector, Mitratel is also expanding its portfolio of tower derivative services such as Project Solutions, Managed Services, Fiberization and Digital Services to accelerate the digital climate in Indonesia.
Currently, Mitratel has a wide service range and a complete telecommunications business ecosystem and has a strong national track record throughout Indonesia. The Company is committed to fully supporting economic equality and internet access to all corners of the country. Mitratel has long-term expansion plans into the Southeast Asia and Asia Pacific markets, in order to strengthen its steps to become an infrastructure provider leading telecommunication in Southeast Asia.
