PT Sarana Menara Nusantara Tbk shareholders are seeking $368.7 million from a sale of stock in the Indonesian telecommunications tower operator, terms for the transaction show.
The investors are offering 277.1 million shares at 12,000 rupiah each, the terms show. Credit Suisse Group AG and CLSA are managing the transaction.
PT Sarana Menara Nusantara Tbk (SMN) is an Indonesia-based company engaged in investing in the telecommunications infrastructure industry through its subsidiary, PT Profesional Telekomunikasi Indonesia (Protelindo). It operates in two segments: tower rental and repeater leasing. As of December 31, 2009, Protelindo owned and operated 4,410 tower sites (4,372 tower sites and 38 indoor repeater sites) spread out all over Indonesia, with its concentration of tower sites in Java, Sumatra, Sulawesi and Kalimantan, which it leases to wireless operators.
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