Flashback of Telkom Go Public Struggle

INDUSTRY.co.id - Jakarta - PT Telekomunikasi Indonesia Tbk appreciated the presence of Untold Story IPO Telkom book on NYSE and Indonesia Stock Exchange. In it is told about Telkom's journey that will be floored in American and Indonesian stock exchanges.

President Director of Telkom Indonesia Alex J Sinaga said that Telkom can dual listing through a long and winding process that even almost canceled due to political power at the time.

"Telkom's IPO, which was implemented 22 years ago, is one of the factors driving Telkom to grow and develop IPO into an important momentum recorded in gold in the history of Telkom," he said in Jakarta on Thursday (15/2/2018) night.

The book by Setyanto P Santoso, Telkom's President Director for the period of 1992-1996, reveals that the cancellation could make Telkom's officials disappear. If the cancellation happens, it will not only harm Telkom but also Indonesia will be destroyed in world capital market.

"The cancellation plan is in the last days leading up to the listing," he said.

Setyanto at that time immediately  Menristek BJ Habibe to give an explanation to President Soeharto in order to avoid a cancellation because then President Soeharto strongly believe and follow his suggestions.

BJ Habibie at the endorsement book stated that he helped persuade Pak Harto to keep Telkom's IPO running. "Thank God we can go public according to plan, thanks to Mr. Setyanto and Telkom team who are struggling to realize their intentions," he said.

As the former President of the 3rd, Habibie continued to benefit Telkom's IPO is very large because Telkom shares sold for 1.2 billion paid in rupiah currency Rp4.063 trillion and strengthen the rupiah at the level of Rp7.500 at that time.