PT Sinergi Inti Andalan Prima Tbk (INET) is setting up a data centre subsidiary, while Indonesia-listed data centre operator PT Indointernet Tbk (EDGE) has proposed a voluntary delisting from the Indonesia Stock Exchange.
Sinergi Inti plans $250m fundraising
Indonesia-listed telecom and Internet services firm PT Sinergi Inti Andalan Prima Tbk (INET) is setting up a data centre subsidiary while also preparing a large capital-raising plan that could reach up to 4.2 trillion rupiah (almost $250 million).
According to the company’s disclosure with IDX on Tuesday, it has established a new subsidiary, PT Sinergi Inti Data Indonesia (SIDI), as part of its expansion into data centre services. The move comes amid rising demand for digital infrastructure driven by cloud adoption, AI workloads, and Indonesia’s fast-growing data consumption.
SIDI was incorporated on February 6 and will focus on data processing, digital platforms, and information security consulting, with data centre operations as its core business. The subsidiary is based in Jakarta.
INET injected 18.7 billion rupiah in paid-up capital into SIDI, representing 18,700 shares with a nominal value of 1 million rupiah apiece. The remaining 3,300 shares, worth 3.3 billion rupiah are held by PT Inti Pusat Data Nusantara, bringing SIDI’s total paid-up capital to 22 billion rupiah. INET remains the controlling shareholder.
The company said the establishment of the subsidiary is a strategic step to broaden the group’s business portfolio beyond its existing telecommunications, Internet service provision, and fibre network leasing activities.
Separately, INET is preparing a sizeable fundraising exercise. The company plans to raise up to 4.2 trillion rupiah through a combination of corporate actions, including a rights issue and the issuance of bonds or other debt instruments. The funds are expected to be used to support expansion across several business lines, including digital infrastructure, network development, and potential acquisitions.
While INET has yet to disclose a detailed timeline for the capital-raising plan, the scale of the proposed fundraising underscores the company’s ambition to position itself more aggressively in Indonesia’s digital ecosystem, particularly in capital-intensive segments such as data centres.
Indointernet proposes voluntary delisting
Indonesia-listed data centre operator PT Indointernet Tbk (EDGE) has proposed a voluntary delisting from the Indonesia Stock Exchange, as its controlling shareholders move to take the company private amid plans to streamline ownership and corporate decision-making.
IDX said trading in EDGE shares has been suspended across all markets starting from the pre-opening session on February 10, following the company’s formal request to change its status from a publicly listed firm to a private company.
According to the exchange, EDGE submitted its delisting proposal on February 9, outlining plans for a voluntary go-private transaction. The suspension will remain in place while the company proceeds with required disclosures and regulatory steps.
Under the proposed scheme, controlling shareholders will offer to buy out minority investors through a tender offer at a price to be determined by an independent valuation. The company said the offer price will be set in accordance with capital market regulations and is intended to provide a fair exit option for public shareholders.
EDGE’s management cited greater operational flexibility and faster decision-making as key reasons behind the delisting plan. As a private company, EDGE would no longer be subject to public market disclosure obligations, which it said could allow the management to focus more closely on long-term strategy and capital allocation, particularly in its core data centre business.
The company listed on the IDX since February 2021. Its last price was 4.790 rupiah apiece on Monday (Feb 9), down by 35% from its IPO price of 7.375 rupiah apiece.
