WIFI EGMS Approves The Company's Right Issue, Targets Acceleration Of Optical Fiber Network Business Development

Photo: Doc. Surge

JAKARTA - PT Solusi Sinergi Digital Tbk alias SURGE (WIFI) through the EGMS has decided on two agendas that approve the corporate action of Capital Increase by Implementing Pre-emptive Rights I (PMHMETD) I. This rights issue is the first for the Company since it was listed on the Indonesia Stock Exchange at the end of 2020.

The EGMS approved the total new shares of a maximum of 4.96 billion shares with a rights issue exercise price range of between Rp260-280 for each Preemptive Rights share. The range of funds obtained from PMHMETD I in the context of issuing Preemptive Rights is at least Rp1,290,043,7776,736 (one trillion two hundred and forty billion forty three million seven hundred seven hundred six thousand seven hundred thirty six rupiahs) and a total of Rp1,389,277,913,408 (one trillion three hundred and eight thousand two hundred and seven hundred and eight rupiahs).

The proceeds from the rights issue are planned to be used by the Company to support the Company's business expansion and its subsidiaries in the field of optical fiber networks.

As is known, since 2022 Surge (WIFI) has fully operated 5,724 km of fiber optic networks on the island of Java, which is located on 3 different routes, namely the railway, toll roads, and also on provincial roads with a capacity of 144 cores and a bandwidth capacity of up to 64 Tbps.

The company also operates 58 Edge Data Center (EDC) locations that are connected to Fiber Optic Backbone along the train line. Currently, the Company has various clients from the Hyperscale Data Center, Telco Operator, Internet Service Providers (ISP), and Cloud Provider segments. The various services accessible to telecommunication actors include Leaded Core (Dark Fiber), Leaded Line (Bandwidth), Colocation, Content Delivery Network (CDN), Tower Fiberization, and others.

In addition, since 2023 Surge has also begun to accelerate the development of connectivity services through the expansion of fiber optic networks in both the Java Island railway segment, toll lines, and various other segments. The company also positions itself as a catalyst for partner business development by presenting various infrastructures that can make it easier for telecommunications players to expand.The Telecommunications Business Segment has contributed to the Company's net income in the first quarter of 2023 by 28 percent, growing significantly compared to contributions throughout the previous year which was only 8 percent. This growth is expected to continue to be consistent in line with the development of connectivity products and service activation to all Indonesian telecommunications actors.