Indonesia’s Telkom sells $234 million of treasury shares

The deal is upsized by more than 50% despite being offered at a zero percent discount. A tight allocation supports the stock in the aftermarket.

Telkom is 53.9% owned by the Indonesian government

Anette Jönsson

July 30, 2013

Telekomunikasi Indonesia (Telkom), an Indonesian telecom operator that is 53.9% owned by the government, last night raised Rp2.409 trillion ($234 million) from the sale of treasury shares — the third such deal in Indonesia and the largest so far.

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