PT Sarana Menara Nusantara Tbk. (IDX:TOWR) announces an share repurchase program. Under the program the company will repurchase up to 576,000,000 shares, representing 0.97% for IDR 300,000 million.
The sources of program is using the internal funds of the company. The program will valid till May 1, 2026.
PT Sarana Menara Nusantara Tbk is an Indonesia-based company, which invest in companies engaged in operating telecommunication tower locations for lease to wireless communication companies. The scope of the Company’s activities involves management consultation activities, holding company activities and central telecommunication construction. Its segments include Tower rental and Other services. Its business activities are conducted primarily through PT Profesional Telekomunikasi Indonesia (Protelindo). Protelindo’s primary business is space on its multi-tenant tower sites to wireless operators in Indonesia pursuant to long-term lease agreements. The leased space consists of vertical space on the tower, on which its customers can install both radio frequency antennas and microwave antennas, as well as ground space at each site for shelters and cabinets for electronic equipment and power supplies storages. Protelindo operates independently from the wireless communication operators.
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