Telkomsel plans money-raising ventures

3 May 2007

Indonesia’s largest cellco by subscribers, Telkomsel, has announced that it plans to issue IDR2 trillion (USD211 million) in bonds in the third quarter of this year. The money raised is to be used to help finance capital expenditures for 2007. Rinaldi Firmansyah, President director of parent company Telkom, told reporters that Telkomsel is also seeking bank loans worth USD1.5 billion to further develop its wireless business. The cellco’s subscriber base stood at 35,597,000 at the end of 2006, a figure which it believes will rise to 56 million by the end of 2007.

Indonesia, Telkomsel (Telekomunikasi Selular)