[%UZlt%] [%nkyf%] interesting development :

1. Do they postpone right issue because it’s cheaper to buy direct from the market at current price?

2. But they need more capital if they want to acquire new assets - so most likely they will proceed with new right issue price.

3. Will they acquire link net for 16T or other assets? This seems a bit too much for their current capital adequacy. If their pocket is not deep enough then [%RWHZ%] may take over.

4. Sapta adhikari own 50% while dwi investama own about 5% why do they split into 2 stakeholder?

5. Telco operator Consolidation - will it impact to tower profitability in long run?

@Herputra @wilstreak interesting development :

1. Do they postpone right issue because it’s cheaper to buy direct from the market at current price?

2. But they need more capital if they want to acquire new assets - so most likely they will proceed with new right issue price.

3. Will they acquire link net for 16T or other assets? This seems a bit too much for their current capital adequacy. If their pocket is not deep enough then $MTEL may take over.

4. Sapta adhikari own 50% while dwi investama own about 5% why do they split into 2 stakeholder?

5. Telco operator Consolidation - will it impact to tower profitability in long run?

@StarkValueInvestor IMHO, Djarum doesn't care about the stock price to be attractive (or maybe I think they don't want to make the rights issues looks attractive). Why? My hunch tells me that they want to have more ownership from this action. Using DIA as the standby buyer, they want to dilute ownership of other shareholders, but still in a good way, they pay at premium price.

 They did tender offer at 1300 IDR, but still couldn't boost their % significantly as not so many people took it (cause many shareholders were lazy to take action). The purpose of this RI is also the same, but as nobody will exercise the rights, they will get all the new shares (without action of other "lazy" shareholders, Djarum will gain % ownership for sure). 

If they really aim for Indosat's FO, then they must inject more than 4.5T, as they want to maintain the investment grade and also don't forget that TOWR also need to maintain ratio of total net debt to their EBITDA for their bonds (they cannot pump the EBITDA instantly so their choice is to pump more cash through RI).


Disclaimer : TOWR is in my investment portfolio so my view might bias. DYOR.