JAKARTA (Yosefardi) – PT Indosat Tbk (ISAT) will sell 239.8 million shares of PT Tower Bersama Infrastructure Tbk (TBIG) at price of Rp5800 per share, or Rp1.39 trillion in total.
Media earlier reported Indosat has assigned Merrill Lynch as sole placement agent for selling 5% TBIG shares, helped by CLSA Singapore Pte Ltd as co-lead manager, through accelerated book-built to institutional investors.
The divestment of 5% TBIG shares is scheduled for March 19, 2014. Indosat holds TBIG shares when selling 2,500 towers to TBIG valuing of US$406 million.