Cases & Deals

Credit Suisse, PT Bahana Securities, PT Danareksa Sekuritas, and PT Mandiri Sekuritas complete block trade of shares in Perusahaan Perseroan PT Telekomunikasi Indonesia

Clients Credit Suisse (Singapore) Limited, PT Bahana Securities, PT Danareksa Sekuritas, and PT Mandiri Sekuritas

Jones Day represented Credit Suisse (Singapore) Limited, PT Bahana Securities, PT Danareksa Sekuritas, and PT Mandiri Sekuritas in a Regulation S block trade of 1,075,000,000 treasury shares in Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk, the largest telecommunication and network provider in Indonesia, at a total aggregate value of $214.6 million (a price per share of IDR 2,405).

The transaction was originally structured as a Regulation S placing and an underwritten U.S. registered ADR issue. Price arbitrage in the last week, resulted in the Regulation S shares becoming cheaper, in turn resulting in full take up of the shares under the placing.

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