JAKARTA (Yosefardi) – PT Tiphone Mobile Indonesia Tbk (TELE) mulls to issue 10% new shares to PT PINS Indonesia, subsidiary of PT Telekomunikasi Indonesia Tbk (TLKM).
Telkom earlier said it intends to TELE as a strategic effort for expanding its distribution division.
Telesindo Shop, unit of TELE, and Telkomsel, unit of Telkom, had last year built 200 outlets. PINS booked revenue of Rp1 trillion in 2013. It targets to book revenue of Rp1.5 trillion this year.
While TELE targets its revenue to grow by 44.23% to Rp15 trillion this year, compared to Rp10.48 trillion last year. TELE booked revenue of Rp3 trillion and net profit of Rp60.73 billion in first quarter of this year.