Jakarta, INTI - PT Indosat Tbk (ISAT) announced a change to the transaction structure involving the company, PT Aplikanusa Lintasarta, and PT Ainfrastruktur Indonesia Raya. The transaction, which was initially planned to be conducted through a publicly listed entity, will instead be carried out through a privately held company.
According to an information disclosure submitted to the Indonesia Stock Exchange (IDX), the change is intended to simplify the transaction structure and execution process. Management emphasized that the adjustment does not alter the transaction’s primary objective of establishing and developing an independent fiber optic infrastructure platform together with the investor.
“The change in structure was made after the company and the investor conducted a further evaluation of the previously planned transaction structure,” Indosat management said in the disclosure on Monday, September 28, 2026.
The revised structure allows Indosat to monetize part of the economic value of its fiber optic infrastructure business while retaining a significant interest in the business.
As part of the transaction, Indosat sold 11,707,828 shares of PT Infra Fiber Teknologi (IFT), representing 84.9% of its total issued and paid-up capital, to PT Nusantara Fiber Teknologi (NFT).
In addition, Indosat and Lintasarta transferred 2,083,223 IFT shares, equivalent to 15.1%, to NFT through an in-kind contribution mechanism in exchange for shares in NFT.
Under the final structure, the investor holds a 50.1% stake in NFT, while Indosat and Lintasarta jointly hold the remaining 49.9%. NFT subsequently becomes the holder of nearly all shares in IFT, allowing Indosat and Lintasarta to retain their interests in IFT indirectly through their ownership of NFT.
In terms of business activities, Indosat explained that IFT operates in wired telecommunications activities, while NFT has a broader business scope covering wired telecommunications, holding company activities, and management consulting services.
Following the completion of the share sale and in-kind contribution transactions, changes will also be made to the composition of the Boards of Directors and Commissioners of both entities.
Transaction Generates IDR 1.64 Trillion Non-Recurring Gain
From a financial perspective, management said the deconsolidation of IFT generated a net gain of IDR 1.64 trillion, which was recognized upon completion of the transaction and is classified as non-recurring.
Going forward, the sale-and-leaseback transaction involving fiber optic assets will affect Indosat’s financial statements through the recognition of lease expenses in accordance with applicable accounting standards.
Regarding licensing, Indosat confirmed that both IFT and NFT have obtained the necessary permits in accordance with applicable laws and regulations to conduct their respective business activities. The transfer of optical cable network assets from Indosat and Lintasarta to IFT through the in-kind contribution mechanism has also been completed.
Management added that the company currently has no plans for other corporate actions over the next 12 months and has no other material information that has not been disclosed to the public that could affect the company’s business continuity or share price.
Conclusion
Indosat’s revised fiber optic transaction structure is designed to simplify the deal while allowing the company to monetize part of its infrastructure assets and retain an indirect stake in the business. The transaction also generated a non-recurring net gain of IDR 1.64 trillion for Indosat following the deconsolidation of IFT.
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