CVC Capital Partners, PT First Media – the media arm of Indonesian conglomerate Lippo Group – and other shareholders in internet service provider (ISP) PT LinkNet, are looking to raise up to IDR8.15 trillion (USD667 million) by selling off shares in the company. It is understood the investors intend to offload a roughly 40% stake in the ISP, priced at between IDR6,200 and IDR6,700 per share, according to a filing from First Media late last week. As previously reported by TeleGeography’s CommsUpdate, the Lippo Group-owned firm is looking to sell at least 11% of LinkNet and expects to be its single largest stakeholder post-transaction. The decision to sell comes after the value of the ISP’s shares more than quadrupled since listing on the local bourse in February. Goldman Sachs Group and Credit Suisse Group are the joint global coordinators for the offer.