Djarum, Owned By Hartono Brothers Conglomerate, Will Add Share Ownership In Sarana Menara Nusantara

Illustration. (Photo: Unsplash)

JAKARTA - The Djarum Group through PT Dwimuria Investama Andalan, which is a company owned by the conglomerate Hartono Brothers, will increase its share ownership in PT Sarana Menara Nusantara Tbk (TOWR). This action was carried out through a Voluntary Tender Offer (PTS) with an exercise price of IDR 1,300 per share.

Based on the prospectus, quoted on Thursday, August 4, TOWR's shares which are the object of PTS totaling 2,550,731,300 shares or equivalent to 5 percent of TOWR's issued and fully paid capital. The PTS price which reached Rp1,300 per share reflected 28.7 percent of the highest average daily trading price on the IDX during the 90 days prior to the announcement of this information disclosure, which was Rp1,010.28 per share.

"Until the date of this PTS statement is issued, there are no objections from any party related to the PTS implementation plan," the management wrote.

The PTS period for TOWR shares is 30 days starting at 9.00 WIB 4 August and ending at 16.00 WIB 2 September 2022. As planned, PTS payments will be made to shareholders who have submitted a valid FPTS, namely on 14 September 2022.

Currently, Dwimuria Investama Andalan owns 100,000 TOWR shares. If all the shares offered in the voluntary tender offer are absorbed, then Dwimuria Investama Andalan will own 2,550,831,300 TOWR shares.

Previously, the Deputy Director of Sarana Menara Nusantara, Adam Ghifari, said that this year his party plans to build 500-800 telecommunication towers. Adam said, TOWR will wait for orders from telecommunications operators to build towers.

"So like in 2020-2021, operators don't decide at the beginning, they decide as they go along. So as we know, the orders come later, but, usually we build 500-800 towers," he said.