PT Link Net Tbk, an Indonesian Internet Service Provider (ISP), is reportedly considering raising up to USD 500 million through the sale of a stake in its fiber business, in anticipation of expanding its network coverage.
PT Link Net Tbk is actively seeking to secure funds for the expansion of its network infrastructure. The ISP has initiated the search for a financial adviser, with the intention of facilitating the sale of shares valued between USD 400 million and USD 500 million. This strategic move underscores the company's commitment to fortifying its capabilities and reaching a wider market audience through the enhancement of its network coverage.
The announcement comes a month after PT Link Net Tbk's parent company, the Malaysia-based Axiata Group, announced that PT Link Net Tbk would sell its fixed-broadband business to mobile operator, XL Axiata, while remaining a wholesale fiber company.
As part of the agreement, PT Link Net Tbk will roll out fiber to an additional 2 million new homes, bringing its total coverage to 6.5 million.
According to an Axiata spokesperson, PT Link Net Tbk requires capital to accelerate its ‘fiber build,’ but did not provide any additional information. Furthermore, PT Link Net Tbk reportedly has no firm plans and may abandon the idea of selling.
