Tiphone launches IPO
The Jakarta Post, Jakarta | Thu, 01/12/2012 11:15 AM
Local cellular phone maker PT Tiphone Mobile Indonesia (TELE) launches its initial public offering (IPO) at the Indonesia Stock Exchange (IDX) today by offering up to 5.35 billion of shares at Rp 310 a piece.
The company is expected to earn Rp 418.5 billion (US$45.4 million) from this offer, while the long run value in the stock market capitalization will amount to up Rp 1.65 trillion.
The total 5.35 billion shares consist of 1.35 billion offered shares and 4 billion founder shares.
According to the company’s data, in June 2011 it posted Rp 2.98 trillion in revenue and Rp 70.38 billion in profit.(drs)
