Telkomsel may launch IPO later this tear<\/p>\n
JAKARTA (JP): Private cellular operator PT Telkomsel is ready
\nto float part of its shares on international and domestic
\nmarkets, according to company senior executive Koesmarihati
\nSugondo.<\/p>\n
"The flotation would be decided by the board of commissioners,
\nbut Telkomsel has been prepared to enter the stock markets at
\nanytime," Sugondo said after introducing a new service called
\nSimPATI here yesterday.<\/p>\n
Swiss securities firm SBC Warburg has predicted that Telkomsel
\nwill launch its initial public offering (IPO) by the fourth
\nquarter of this year, raising around US$250 million in fresh
\nfunds.<\/p>\n
Telkomsel was founded on May 26 two years ago to operate a
\nGlobal System for Mobile communications (GSM) cellular system.<\/p>\n
The company is 42.72 percent owned by PT Telkom, 35 percent by
\nPT Indosat, 17.28 percent by PTT Telecom Nederland of the
\nNetherlands and 5 percent by Setdco Group.<\/p>\n
Sugondo said that the company would probably meet the Jakarta
\nStock Exchange listings requirements, such as booking a profit in
\ntwo consecutive years.<\/p>\n
It was possible that Telkomsel would also float its shares on
\ninternational stock exchanges, she said.<\/p>\n
She refused to disclose further details of the IPO, including
\nthe number of shares or the timetable.<\/p>\n
Sugondo announced earlier this year that her company had made
\na profit last year of about Rp 50 billion.<\/p>\n
Telkomsel has assets of around Rp 1.7 trillion and equity of
\nRp 1.4 trillion. The company plans to double its investments to
\nRp 710 million this year.<\/p>\n
Telkomsel, one of the country's three GSM cellular operators,
\nannounced earlier this year that it wanted to gain an ISO-9000
\ncertificate this year.<\/p>\n
Sugondo said that the ISO certification would help the company
\nboth provide better public services and become a world-class
\ncellular operator.<\/p>\n
PT Excelcomindo Pratama and PT Satelindo also operate GSM
\nsystems. These three GSM carriers are battling to provide the
\nmost innovative, qualified and diversified services to GSM
\nsubscribers, amid tight competition from other domestic
\ntelecommunications operators, because tariffs are fixed by the
\ngovernment.<\/p>\n
Satelindo, which runs GSM, satellite and international
\ntelecommunications, also plans to float its shares next year.<\/p>\n
SimPATI are subscriber identity module cards with limited
\nunits which will allow users to make as many local calls as they
\nwant until the units are used up.<\/p>\n
Company director of engineering Garuda Sugardo said that and
\nhis company was the only GSM operator which covered up to 240 big
\ncities and small towns in the country's 27 provinces.<\/p>\n
The company currently has 280,000 customers, he said. (icn)<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/telkomsel-may-launch-ipo-later-this-tear-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }