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Dayamitra Telekomunikasi (Mitratel) is a tower leasing unit of Telkom Indonesia. As of September 2021, the company managed just over 28,000 telecommunication towers across indonesia. It generated revenue through two main services, tower leasing and tower related business.
The company has been growing its revenue steadily, driven by the increase in the number of towers it owns. This was largely due to its parent, Telkom Indonesia, which is the largest wireless carrier in the country, accelerating its sales and leaseback of towers to Mitratel in the past two years.
Between 2019 to September 2021, Mitratel has acquired about 13k towers, almost doubling the total number of towers over the period and making Mitratel as the biggest tower company in Indonesia. The acquisitions of the towers has also improved its tenancy ratio and bolstered its EBITDA margin.
Dayamitra (Mitratel) Pre-IPO - Largest telco tower provider with a strong backing
Dayamitra Telekomunikasi is looking to raise about US$1bn in its upcoming Indonesia IPO.Dayamitra Telekomunikasi (Mitratel) is a tower leasing unit of Telkom Indonesia. As of September 2021, the company managed just over 28,000 telecommunication towers across indonesia. It generated revenue through two main services, tower leasing and tower related business.
The company has been growing its revenue steadily, driven by the increase in the number of towers it owns. This was largely due to its parent, Telkom Indonesia, which is the largest wireless carrier in the country, accelerating its sales and leaseback of towers to Mitratel in the past two years.
Between 2019 to September 2021, Mitratel has acquired about 13k towers, almost doubling the total number of towers over the period and making Mitratel as the biggest tower company in Indonesia. The acquisitions of the towers has also improved its tenancy ratio and bolstered its EBITDA margin.
Underlying
PT Dayamitra Telekomunikasi
Provider
Aequitas Research
Aequitas Research is a leading ECM research firm with a focus on IPOs and placements/follow-on offerings across the Asia Pacific with deal size of over USD100m.
Since 2015, we have covered 400+ IPOs and 450+ placements with a hit rate of 73% and 65%, respectively. We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic analysis.
Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis. We also provide a more quant driven analysis on placement/follow-on offerings.
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Hong Kong,
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Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.
Zhen Zhou Toh
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