Tiphone to Sell Shares, Eyes Revenue Hike
Bareksa • 25 Jun 2014
Rising smart phone sales in Indonesia prompts handset retailer like Tiphone to expand and eyes higher revenue. (JG Photo/Safir Makki)
This year, Tiphone aims to raise approximately Rp 15.6 trillion ($1.3 billion) in revenue.
Bareksa.com - Tiphone Mobile Indonesia, one of the country’s leading top-up voucher and handset retailers, is eying higher revenue this year on the back of a network expansion after securing a capital boost from a unit of Telekomunikasi Indonesia.
As quoted from The Jakarta Globe, Tiphone is set to sell 10 percent of new shares to PINS Indonesia, Telkom’s subsidiary, next month at Rp 812 a piece. The sale will raise the company’s capital by Rp 518.2 billion, said Semuel Kurniawan, Tiphone’s corporate secretary, on Tuesday.