SMN, the parent company of PT Profesional Telekomunikasi Indonesia ("Protelindo"), announced an increase in common stock ownership by the company’s controlling shareholder, PT Sapta Adhikari Investama ("SAI"), from 48.8% to 50.03% of SMN’s total shares. This increase in SAI’s shareholding in SMN follows an increase in SAI’s shareholding from 32.7% to 48.8% of total shares in late November 2017.
SAI is an investment vehicle that is wholly owned by members of the Hartono Family ("Djarum Group"). According to SAI’s filing with the Indonesian Otoritas Jasa Keuangan, SAI bought approximately 125 million shares of TOWR at a price of IDR 3,930 per share through a series of transactions in the IDX regular market executed on January 19, 2018.
"This IDR 491 billion investment shows the Djarum Group’s continued strong commitment to SMN. We believe the increase in the Group’s shareholding underscores the role SMN plays in enhancing synergies within the Group and the strategic importance that the Group places on SMN.” stated Ferdinandus Aming Santoso, President Director of SMN.
SMN, through its subsidiaries Protelindo and iForte, is the largest independent telecommunication infrastructure provider in Indonesia with nearly 15,000 towers leased by more than 24,000 tenants. SMN also owns and operates nearly 4,000 kilometers of fiber optic networks throughout Java. SMN is a public company listed on the IDX with a market capitalization of approximately IDR 40 trillion.