Tiphone to Sell Shares, Eyes Revenue Hike

Bareksa.com - Tiphone Mobile Indonesia, one of the country’s leading top-up voucher and handset retailers, is eying higher revenue this year on the back of a network expansion after securing a capital boost from a unit of Telekomunikasi Indonesia.

As quoted from The Jakarta Globe, Tiphone is set to sell 10 percent of new shares to PINS Indonesia, Telkom’s subsidiary, next month at Rp 812 a piece. The sale will raise the company’s capital by Rp 518.2 billion, said Semuel Kurniawan, Tiphone’s corporate secretary, on Tuesday.

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