Trikomsel Seeks Strategic Acquisition&Partner
VIVAnews - PT Trikomsel Oke Tbk. (TRIO) is arranging a market segment expanse to Southeast Asia by acquiring strategic companies or establishing partnership.
"We will maintain the company's growth through organic or inorganic way using strategic acquisition and partnership, domestically or internationally," said the managing director of Trikomsel Oke Sugiono Wiyono during the first initial public offering at Bank Mandiri's office in Jakarta on Thursday, April 2.
Wiyono said that the cellular phone market segment is still growing in Indonesia. It is predicted that only 30 percent of Indonesian people own cellular phones.
On other issue, Wiyono mentioned about a conversion execution of Mandatory Exchangeable Bond (MCB) with Canopus Finance Ltd., which is an affiliation of Northstar Equity Partner, and will be executed eight months after a stock record at the Indonesia Stock Exchange (IDX) on April 14 or 15.
"Northstar will be a stock holder in Trikomsel but PT Delta Sarana Pradana still hold the control by 87 percent," he said.
According to Wiyono, the convertible bond value which has been signed with Northstar on January and July valued US$20 million, and later on, Canopus will acquire 25 percent of Trikomsel's shares.
He also added that Canopus can increase Trikomsel shares portion through secondary or first market. "It seems that they won't add shares. They're strategic partners to us," he said.
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Translated by: Ariyantri E. Tarman
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