Telkom Evaluate IPO for Subsidiaries

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June 16, 2006

Jakarta – PT. Telekomunikasi Indonesia Tbk (Telkom) is planning to evaluate possibilities to offer Initial Public Offering (IPO) for its subsidiaries.
The IPO would likely be offered after the subsidiaries records of accomplishment improve. "IPO for our subsidiaries is under-evaluation," said Financial Director PT. Telkom Rinaldy Firmansyah, in Jakarta, yesterday.
According to him, all of Telkom subsidiaries are potential for IPO, except PT. Telkomsel. Those subsidiaries include PT. Ariawest International, PT. Pramindo Ikat Nusantara, PT. Dayamitra Telekomunikasi, PT. Infomedia Nusantara, PT. Multimedia Nusantara and PT. Indonusa Telemedia.
"All subsidiaries are under evaluation to decide whether they are potential for IPO. It would be possible for the next three years," said Rinaldy. PT. Telkomsel will not be joining the IPO club since it has made the largest contribution to Telkom total revenue last year that reached Rp 14.57 trillion or 40% of Telkom annual revenue in 2005.
(Source: Seputar Indonesia).