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Indonesia's Telkom raises around $220 mln from treasury share sale
June 13, 2014 / 9:06 AM / 3 years ago

Indonesia's Telkom raises around $220 mln from treasury share sale

JAKARTA, June 13 (Reuters) - PT Telekomunikasi Indonesia (Telkom), Indonesia’s biggest telecommunication operator, raised around 2.6 trillion rupiah ($220.5 million) from the sale of treasury shares on Friday.

Telkom sold around 1.1 billion treasury shares at 2,405 rupiah each, Telkom’s Finance Director Honesti Basyir told Reuters in a mobile text message. The price matches Telkom’s closing price on Thursday.

The proceeds will be used for the company’s planned capital expenditure for 2014, Basyir said.

The buyers of the treasury shares include several institutional investors, a source with direct knowledge of the sale told Reuters.

Credit Suisse, Bahana, Danareksa and Mandiri managed the transaction.

Telkom shares rose as much as 2.1 percent on Friday, outperforming the Jakarta stock exchange, which fell 0.2 percent. ($1 = 11,790.00 rupiah) (Reporting by Fathiyah Dahrul and Fransiska Nangoy; Additional reporting by S. Anuradha of IFR; Writing by Eveline Danubrata; Editing by Ryan Woo)

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