Public Listing Plan of PT Tower Bersama Infrastructure Tbk
PT Tower Bersama Infrastructure Tbk (TBI), a leading provider of BTS tower rental services and telecommunications infrastructure solutions for telecom operators in Indonesia, plans to conduct an Initial Public Offering ("IPO") after obtaining an effective statement from Bapepam-LK.
Jakarta, 27 September 2010 – TBI management, along with the Underwriters, has agreed to offer up to 755,000,000 new shares to the public at a price range of IDR 1,675 to IDR 2,100 per share. PT UBS Securities Indonesia and PT Indo Premier Securities act as the Underwriters, with a full commitment for all shares offered by TBI. In addition to the new share offering, a greenshoe option will be implemented for up to 113,250,000 TBI shares owned by some of its shareholders. Alongside the public offering, some founding shareholders also plan to conduct a private placement of their shares. Through this IPO and private placement, TBI and its shareholders target to raise approximately USD 200 million.
Funds raised from the IPO will be utilized to expand TBI's tower portfolio, both through acquisitions and new tower construction. "Currently, TBI has partnerships with all telecommunications operators," said TBI Chief Operating Officer Herman Setya Budi, accompanied by TBI's Board of Directors, during a press conference following today's Public Expose.
TBI conducted a Due Diligence Meeting (DDM) and Public Expose with the two Underwriters as part of the book-building process during the IPO, aimed at gauging initial interest from potential investors, both retail and institutional, as well as prospective underwriters. The book-building process runs from 27 September 2010 to 7 October 2010, with the public offering period scheduled for 18-20 October 2010 and a target listing date on the Indonesia Stock Exchange on 26 October 2010.
"This is a unique opportunity to invest in rare and prime assets for telecommunications towers in Asia. We are confident this offering will attract interest from high-quality global investors and also investors in Indonesia," said Rajiv Louis, Head of Investment Banking, PT UBS Securities Indonesia. "We are very optimistic that TBI's IPO will receive positive responses from various investor groups, both domestic and international, due to the uniqueness of TBI's business model and its advantageous position benefiting from the growth of cellular communication usage and Indonesia's domestic consumption growth. TBI is expected to be one of the most promising newcomers on the Indonesia Stock Exchange this year," said Moleonoto The, Managing Director of PT Indo Premier Securities.
This IPO will enable TBI to diversify its funding sources, allowing the company to accelerate growth and become an appealing prospect for potential investors. Herman Setya Budi emphasized that the company will continuously strive to provide optimal value for all shareholders.
About PT Tower Bersama Infrastructure Tbk:
TBI, also known as Tower Bersama Group (TBG), is a provider of telecommunications infrastructure for BTS placement by telecom operators in Indonesia. TBI is one of the largest independent telecommunications tower companies in Indonesia, providing telecommunications infrastructure along with operational and maintenance services for telecom operators. TBI's infrastructure services include tower leasing and Distributed Antenna System (DAS) solutions for telecom operators through build-to-suit and co-location models. Since its establishment in 2004 and up to April 2010, TBI has owned and operated more than 2,600 sites with over 4,000 tenants, a number that continues to grow due to high demand from telecom operators. TBI is a company owned by Saratoga Group and Provident Capital Group.
For more information, please contact:
Helmy Yusman Santoso – Tower Bersama Group
Tel: (62-21) 571 1946
Email: corporate.secretary@tower-bersama.com
