JAKARTA – Shares of PT Remala Abadi Tbk (DATA) saw 59.09% or 445 points increase to IDR 1,225 per share within the past 5 days. This surge brought this telecommunication service provider to rise to IDR 1.58 trillion.

As mentioned by IDNFinancials last Monday (20/1), DATA will be acquired by a subsidiary of PT Sarana Menara Nusantara Tbk (TOWR), PT Iforte Solusi Infotek. TOWR is a telecommunication issuer under Djarum Group.

The portion of DATA’s shares to be acquired by Iforte is 40%. The entire shares will be acquired from Verah Wahyudi Singgih Wong and Jimmi Anka.

“The purpose of this acquisition is for business expansion, thus extending the network, in order to strengthen the buyer group in the digital telecommunication infrastructure,” the management of TOWR mentioned in the official statement.

Iforte and DATA signed a sale and purchase binding agreement on December 23, 2024. As of now, the acquisition is entering the negotiation phase. (KR/ZH)