Standard Chartered Private Equity Acquires 13.5 Percent Stake in Trikomsel (Asia)

Source: Asian Venture Capital Journal  |  Author: Alvina Yuen

Hong Kong-based alternative asset manager Standard Chartered Private Equity Limited (SCPEL) has acquired a 13.5 percent stake in Indonesian mobile phone retailer Trikomsel Oke. SCPEL purchased 600.75 million shares from the firm’s existing institutional shareholders at a price of IDR830 per share, for a total transaction value of IDR499 billion (approximately US$53 million). Trikomsel, which operates over 800 outlets in 150 cities throughout Indonesia, is also considering issuing new shares and convertible bonds worth up to IDR1.1 trillion (US$114 million).