NEWS & EVENTS
TOWR Share Liquidity Improved Markedly in January 2019
Jakarta, February 12, 2019 | Source: Company

PT Sarana Menara Nusantara Tbk ("SMN" or "TOWR"), the parent company of Protelindo, KIN and iForte, enjoyed vastly increased liquidity in its stock trading on the Indonesian Stock Exchange (“IDX”) in January 2019. Share trading volume and liquidity has increased dramatically since late 2018 and has continued to improve since the inclusion of TOWR's shares in the IDX80 index.

“Share trading liquidity on the IDX is a factor in the TOWR share price reflecting the true intrinsic value of the business and the strong growth we have experienced over the last couple of years”, said Aming Santoso, President Director of SMN. "The recent improvement in the share liquidity is recognition of our balanced growth, solid financial position and our value. With new contracted revenue of IDR 5.8 trillion on hand from pipeline tower and fiber orders and our new satellite contract, we have the capacity to continue investment in our business while maintaining growth and returning capital to our shareholders".

The Average Daily Traded Value (“ADTV”) of TOWR stock reached IDR 30 billion in January 2019. “In July 2018 the ADTV of TOWR shares was IDR 1.1 billion. The volume has increased nearly 30 fold since that time", stated Adam Gifari, Vice President Director of SMN. "Previously the stock was illiquid with most of the high volume trades done on the negotiated market as block trades. The trading volume is now within the current IDX LQ45 ADTV parameters", continued Adam, "We are pleased with the recent increase in liquidity to IDR30 billion ADTV in January 2019. At current liquidity levels and with our large free float of 49.9% we hope that we may be included in the IDX LQ45 by August 2019 and possibly in other indices later”, concluded Adam. 

SMN is a company listed in Indonesian Stock Exchange (“IDX”) under “TOWR” ticker with equity market capitalisation of approximately IDR 40 trillion. TOWR common stock has recently been included in the IDX80, a newly created index issued by IDX. The IDX80 stocks are those stocks that are considered the most liquid on the IDX and have a free float which will support active trading of the stock.

Contact: investor.relations@ptsmn.co.id