PT Indosat Tbk (ISAT) has changed the structure of its fiber optic transaction with PT Aplikanusa Lintasarta and PT Ainfrastruktur Indonesia Raya, moving the transaction from a publicly listed company structure to a private company structure (28/09).

The company said the change was made to simplify the transaction structure and execution process. Indosat also confirmed that the change does not alter the main purpose of the transaction, which is to establish and develop an independent fiber optic infrastructure platform with an investor.

“The change in the structure was made after the company and the investor conducted a further evaluation of the previously planned transaction structure,” Indosat management said in an information disclosure to the Indonesia Stock Exchange on Monday (28/9/2026).

Indosat Changes Fiber Optic Transaction Structure

The revised structure allows Indosat to monetize part of the economic value of its fiber optic infrastructure business while continuing to maintain a significant ownership interest in the business.

As part of the transaction, Indosat is selling 11,707,828 shares of PT Infra Fiber Teknologi (IFT) to PT Nusantara Fiber Teknologi (NFT). The shares represent 84.9% of IFT's total issued and paid-up capital.

Indosat and Lintasarta are also carrying out an in-kind contribution, or inbreng, of 2,083,223 IFT shares, representing 15.1%, to NFT in exchange for NFT shares.

Investor to Own 50.1% of Nusantara Fiber Teknologi

Under the final structure, the investor will own 50.1% of NFT, while Indosat and Lintasarta will jointly hold the remaining 49.9%.

NFT will then become the holder of nearly all IFT shares. Through their ownership in NFT, Indosat and Lintasarta will retain their interests in IFT indirectly.

IFT operates in cable-based telecommunications. NFT has a broader business scope, covering cable-based telecommunications, holding company activities and management consulting.

Indosat Records Rp1.64 Trillion Non-Recurring Gain

After the sale and inbreng of the shares are completed, the composition of the boards of directors and boards of commissioners at both entities will also be changed.

From a financial perspective, the deconsolidation of IFT will generate a net gain of Rp1.64 trillion for Indosat. The gain will be recognized when the transaction is completed and will be classified as non-recurring.

The future sale-and-leaseback transaction involving fiber optic assets will affect Indosat's financial statements through the recognition of lease expenses in accordance with applicable accounting standards.

Fiber Optic Asset Transfer and Permits Completed

Indosat said that both IFT and NFT have obtained the required permits under applicable laws and regulations to conduct their respective business activities.

The transfer of cable network assets from Indosat and Lintasarta to IFT through the inbreng mechanism has also been completed.

Management also said that Indosat currently has no plans for corporate actions during the next 12 months. The company added that it has no other material information that has not been disclosed to the public that could affect the continuity of its business or its share price.

PHOTO: INSIGHT KONTAN

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