Mitratel raises $1.3 billion through IDX debut

State-owned telecommunications tower operator PT Dayamitra Telekomunikasi (Mitratel) debuted on Indonesia’s stock exchange on Monday, raising Rp 18.7 trillion (US$1.3 billion). Mitratel, which is listed on the Indonesia Stock Exchange (IDX) under the ticker symbol MTEL, released 23.4 billion shares to the public at Rp 800 apiece, bringing its market capitalization to Rp 66.8 trillion. The company says it plans to use 50 percent of the proceeds to acquire new towers and businesses, 40 percent to build and upgrade towers and the remaining 10 percent as working capital.

November 25 2021, The Jakarta Post - Read 11 times

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