Indonesian internet service provider Link Net expects to raise IDR 487 billion in an initial public offering (IPO) scheduled for next month, The Jakarta Post reports. Link Net said it expects to float 304.3 million shares or 10 percent of its enlarged capital to the public in the IPO. At end-2013, First Media held a 66.06 percent stake in Link Net, with the remaining 33.94 percent owned by Asia Link Dewa. After the IPO, First Media's share ownership will be reduced to 56.06 percent. The operator currently has nearly 333,000 subscribers, over 1,100 corporate clients for its data communication services as well as 329,000 cable TV subscribers.
