Mitratel, Telkom's Subsidiary Wants IPO With The Largest Value In History, Which Is IDR 24.9 Trillion

Illustration. (Photo: Doc. Mitratel)

JAKARTA - The initial public offering (IPO) of PT Dayamitra Telekomunikasi Tbk (Mitratel) is in sight. And, the acquisition value of the IPO funds of a subsidiary of PT Telkom Indonesia has the opportunity to be the largest in the history of the Indonesia Stock Exchange (IDX).

Citing the IPO prospectus released today, Tuesday, October 26, Mitratel offers an initial price in the range of IDR 775 - IDR 975 per share. The number of shares to be released is 25.54 billion shares with a nominal value of IDR 228 per share, or equivalent to 29.85 percent of the issued and paid-up capital after the IPO.

Thus, through the IPO of Mitratel, which is a subsidiary of PT Telkom Indonesia Tbk (TLKM), it has the opportunity to reap fresh funds of between IDR 19.79 trillion to IDR 24.90 trillion.

If Mitratel's initial IPO price is set at IDR 975 per share, this means that the proceeds of IDR 24.90 trillion will be the largest IPO value in history.

In comparison, the IPO of PT Bukalapak.com previously held the largest title in history. When listing on August 6, 2021, BUKA managed to raise funds of IDR 21.9 trillion.

Two state-owned securities will assist Mitratel's IPO celebration as the implementing guarantor of the securities issuance. Namely PT BRI Danareksa Sekuritas and PT Mandiri Sekuritas. While the underwriters will be determined later.