The tender offers for additional shares in Indosat which is listed on both the Indonesia and New York stock exchanges, totalled 2,324,910,450 Series B Shares. This exceeded the maximum number of Indosat shares Qtel could purchase in the tender offers, which was capped at 1,314,466,775, or about 24.19 per cent of Indosat’s total issued and outstanding shares. Due to the oversubscription, Qtel announced a pro-ration factor of about 56.54 per cent on this basis, accepted for purchase 1,314,466,775 Indosat shares on a pro rata basis from all tendering shareholders. Tendered shares that were not accepted have been returned to shareholders.
Qtels’ acquisition of a controlling stake in Indosat is in line with its bid of becoming a global top-20 telecommunications provider by the year 2020. The company currently has stakes in 16 countries, including the Middle East and Asia with a customer base of more than 57 million.
business@khaleejtimes.com
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