Sinergy Network IPO, APJII Chairman Joint Venture Company and Former CEO of Telkomsel Targets IDR 151 Billion

JAKARTA - PT Sinergi Inti Andalan Prima Tbk (INET) or Sinergy Networks is one of the leading Internet Infrastructure companies in Indonesia, plans to conduct an Initial Public Offering (IPO) on July 20 2023. This IPO will open opportunities for investors to participate in a fast growing company that focuses on fiber optic, Internet, and EDGE Data Center services.

With a strong B2B segment, Sinergy Networks has strengthened its position as a trusted service provider in collocation, local loop access, super fast internet, data center, and network manage services. This company already has a fiber optic network that covers 3500KM in Java Island, with coverage of up to 590 cities and more than 600 buildings.

Interestingly, Sinergy Networks has a broad market potential with a population of 140 million people. The company has collaborated with various well-known B2B customers, such as Moratelindo, MNC Vision Network, MyRepublic, Linknet, Angkasa Pura, and hundreds of other local ISPs. Sinergy Networks' expertise in providing super-fast internet connections has made it the partner of choice for these companies.

According to the CEO of Sinergy Networks, Muhammad Arif, in a written statement, Monday 26 June, this IPO step is the right strategy to strengthen the company's position in the internet and technology industry. Muhammad Arif, who also serves as Chairman of APJII for the 2021-2024 period, has contributed to the development of the internet service sector in Indonesia.

In the board of commissioners of Sinergy Networks, there are experienced and accomplished names such as Setyanto Hantoro, Main Commissioner of Sinergy Networks, who is a former CEO of Telkomsel and has a background as CEO of several Telkom group subsidiaries. The company also pointed it out, Dr. Ir. Cahyana Ahmadjayadi as Independent Commissioner of Sinergy Networks, who is a former Commissioner of Bank Mandiri Tbk, Former President Director of PT Pos Indonesia, and also a former Independent Commissioner of PT Telkom Tbk.

In this corporate action, Sinergy Networks plans to issue 20 percent new shares of 1.500.000.000 shares, with a target of raising IDR 150 billion. The company also provides bonus warrants to investors as a sweetener, with a ratio of 5:7 from the new shares issued.

By carrying out the IPO, Sinergy Networks hopes to expand its infrastructure, develop more innovative services, and become a leader in providing super-fast connectivity for business customers in Indonesia. This IPO also provides an opportunity for investors to participate in the growth of promising companies in an era of increasingly advanced technology.