Stakeholders in Indonesian CDMA wireless operator PT Bakrie Telecom yesterday approved a plan to issue new shares equivalent to approximately 10% in the enlarged firm, worth around IDR754 billion (USD81.8 million), to pay off debt and to acquire a stake in fellow CDMA provider PT Sampoerna Telekomunikasi Indonesia (STI). The Jakarta Post reports Bakrie Telecom president Anindya Bakrie as confirming the move and adding that the new shares will be offered at a minimum price of IDR265 per share – a premium on yesterday’s closing price of IDR255. Anindya went on to say that several strategic investors had shown an interest in buying the shares.
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OVETEL Shareholders back Bakrie Telecom share issue
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