JAKARTA (Yosefardi) – Tower operator PT Tower Bersama Infrastructure Tbk (TBIG), controlled by Edwin Soeryadjaya, also plans to issue 479.65 million new shares through private placement (non-preemptive rights), representing 10% of its enlarged shares capital.
This aims to settle the share swap transaction with PT Dayamitra Telekomunikasi (Mitratel), subsidiary of PT Telekomunikasi Indonesia Tbk (TLKM). TBIG also includes its 53.29 million treasury stocks on the share swap transaction.
The company might price its new shares at minimum Rp8,795 per share, to raise total proceeds of Rp4.68 trillion. TLKM has option to swap 49% Mitratel shares with 5.7% TBIG shares. Then, within 2 years, TLKM also has option to swap another 51% Mitratel shares with TBIG shares.
TLKM finally will hold 13.7% TBIG shares. While TBIG will fully control Mitratel with total acqusition cost of Rp11.06 trillion. The share swap is targeted to complete by first quarter of 2015.