14 June 2022 (closed)
Jakarta Composite Index (7,049.88) +54.44 +0.78%
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Indonesian Internet services provider Link Net decided to set its share price for the company's initial public offering (IPO) at IDR 1,600 (USD $0.14), the upper level of the indicative price as investor demand is expected to be high. The company, a subsidiary of First Media (cable-TV operator and Internet services provider), offers 304 million shares, or 10 percent of its enlarged capital between 22 and 23 May 2014. The listing on the Indonesia Stock Exchange is planned for 2 June 2014. Lead underwriter is Ciptadana Securities.
Link Net, established in 1996, aims to raise IDR 486 billion (USD $42.3 million) through the IPO. Proceeds will be used to develop the company's Internet service, content development, content distribution as well as for the development of an in-house TV channel.
Apart from First Media, Asia Link Dewa also owns a large stake in Link Net. In 2013, Link Net posted a 20.1 percentage growth of net profit to IDR 593.8 billion (USD $51.6 million), while revenue grew 28 percent to IDR 1.7 trillion (USD $147.8 million).
The company is known for its broadband Internet service FastNet. It provides Internet services to corporations and offers cable-TV and data communication services. Link Net has around 332,900 broadband subscribers and provides Internet services to more than one million households in the Greater Jakarta region and Surabaya (East Java). Furthermore, it provides data communication services to more than 1,100 corporate clients and has 329,000 cable-TV subscribers.