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PT Trikomsel Oke Tbk, an Indonesian handset distributor and retailer, will sell 10.6 percent of its stake to Polaris Ltd, the company said in a statement.
The shares, worth $65.83 million, will be sold through a share swap mechanism, Juliana Samudro, corporate secretary of Trikomsel said.
The company is targeting 11.85 trillion rupiah ($995.80 million) in revenue this year, up 15 percent from last year and plans to spend between $5 million and $10 million on expansion this year. (Investor Daily)
Note: Reuters has not verified this story and does not vouch for its accuracy.
$1 = 11,900 rupiah Compiled by Jakarta Newsroom; Editing by Anupama Dwivedi