Getting ready! Telkom Mitratel’s subsidiary to IPO

Jakarta, CNBC Indonesia – One of the state-owned subsidiaries of PT Telekomunikasi Indonesia (Persero) Tbk (TLKM) will list its initial public offering (IPO) on the Indonesia Stock Exchange (IDX). It’s just that the period for this IPO listing has not been disclosed in detail.

The subsidiary in question is PT Dayamitra Telekomunikasi or Mitratel. The plan was disclosed by Deputy Minister for State-Owned Enterprises (BUMN) Kartika Wirjoatmodjo.

Mitratel is a subsidiary of Telkom which is engaged in the provision of telecommunications infrastructure. Mitratel started to enter the telecommunication tower business since 2008.

The official website notes that, to date, Mitratel has managed more than 16,000 telecommunication towers spread throughout Indonesia. All Indonesian cellular operators are claimed to have become tenant by placing the BTS0nya device on the Mitratel tower.

The man who is familiarly called Tiko explained that the IPO and strategic partnership indeed will be an important part of the business plans of state-owned companies.

“In the future, in the various existing clusters we will conduct an IPO and strategic partnership. For example at Pertamina upstream holding. In Telkom in the tower there is Mitratel, there will be an IPO, “said Tiko in the HSBC Economic Forum event entitled ‘Orchestrating the next move: Transforming Indonesia into Asia’s next supply chain hub’ which took place virtually, Wednesday (16/9/2020).

This step was taken as part of the BUMN program to improve value creation. In addition, he wants state-owned companies to become a locomotive to boost the economy.

“But the locomotive is not for BUMN, but for transporting passengers from all other sectors of the economy including private and foreign,” said the former President Director of PT Bank Mandiri Tbk.

He admitted that managing a large and varied number of BUMNs had its own challenges.

“And indeed the challenges are big. However, we believe that with the model of economic transformation that we are currently carrying out, God willing, in the next 3-5 years we can truly create economic engine which is able to bring Indonesia to advance to next level, “he said.

Therefore, he also emphasized that BUMN under Minister Erick Thohir is very open to cooperation with the private sector and various parties including foreign investors.

“So currently there are quite a lot of transactions that we open ourselves to be able to cooperate with private as well as foreign parties. For example, currently there is a tender for Kualanamu Airport where we are invite investors for cooperation at Kualanamu Airport, at Lombok airport as well, “he explained.

Regarding Mitratel’s IPO discourse, it had been going on for a long time. Even in July 2011,, once reported that Mitratel’s IPO plan would be implemented in the second semester of 2012. However, this Telkom subsidiary must pursue 3,000 towers before the company offers its shares to the public.

[Gambas:Video CNBC]

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