JAKARTA - PT Integration Network Ecosystem (IJE) or Weave as a subsidiary of PT Solusi Sinergi Digital Tbk (WIFI) has issued debt securities, namely in the form of Bonds II and Sukuk Ijarah I in 2025 with each worth IDR 1.25 trillion, bringing the total to IDR 2.5 trillion.
In its issuance, the company's bonds and sukuk experienced oversubscribed from investors.
How much is the Oversubscribe? Of course we can't disclose. It can only be ascertained that the oversubscribe and forced to be immediately stopped. Directly IDR 2.5 trillion in one round and this is very rare," said RHB Sekuritas President Director Thomas Nugroho as Joint-Lead Underwriters (JLU) quoting Antara.
Thomas explained that oversubscribe occurred as investors were motivated by the Japanese telecommunications company NTT East which would invest Rp4 trillion in share ownership and non-cash component in Weave.
"After we checked back, in the last six months and in the past year, the value of Rp. 2.5 trillion is for the issuance of large enough bonds for the people's cheap internet, this is extraordinary," said Thomas.
Regarding the composition of investors who make purchases, he revealed that the majority are domestic institutional investors, including several treasury banks, Asset Management (AM), pension funds (dappen), and individuals.
In addition to coupons attracting 10.25 to 11.5 percent per year, according to him, Weave's debt securities are attractive, namely in line with the presence of East NTT which has high standards to determine investment abroad.
"One of the early milestones is to be bigger. With the doors of the Samurai Bond, it means a global market, so this can become a global player," said Thomas.
On the same occasion, UOB UOB's AVP Corporate Finance Kay Hian Sekuritas Melisa Marianni saw a positive signal to provide support for Weave in line with business expansion that will lead to cables, fiber, and telecommunications network infrastructure.
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Through the issuance of debt securities, according to him, it will provide fresh funding for the company so as to provide support for future business expansion.
The company's move to dare to enter the capital market sector, which is with the issuance of bonds and sukuk is a bold step and a uniqueness. Then, the entry of strategic partners from Japan NTT East becomes a belief and uniqueness from the issuance of bonds and sukuk Weaves," said Melisa.
In its issuance, Weave collaborated with eight securities companies as Joint-Lead Underwriters (JLU), including RHB Sekuritas Indonesia, Bahana Sekuritas, BRI Danareksa Sekuritas, BNI Sekuritas, Ciptadana Sekuritas Asia, KB Valbury Sekuritas, Mirae Asset Sekuritas Indonesia, and UOB Kay Hian Sekuritas.
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