Indonesian telecommunication operator Solusi Tunas Pratama has pulled a planned share sale worth around $300 million due to concerns about weak market conditions, IFR reported on Monday, citing a person close to the transaction. (Antara Photo/Novrian Arbi)

Solusi Tunas Pratama Pulls $300m Share Sale:IFR

MAY 11, 2015

Jakarta. Indonesian telecommunication operator Solusi Tunas Pratama has pulled a planned share sale worth around $300 million due to concerns about weak market conditions, IFR reported on Monday, citing a person close to the transaction.

Books were covered but shareholders did not want to go ahead, and no new timetable has been fixed for the re-launch, said IFR, a Thomson Reuters publication.

Solusi Tunas CEO Nobel Tanihaha did not immediately respond to an email seeking comment.

Last week, PP Properti, a unit of Pembangunan Perumahan, priced its initial public offering at the bottom of a 185-320 rupiah range, IFR reported.

Reuters

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