Telkom (TLKM) stock price shot up 7.44% in a day, management gives an explanation

Reporter: Nur Qolbi | Editor: Novice Laoli

KONTAN.CO.ID – JAKARTA. Shares of PT Telkom Indonesia (Persero) Tbk (TLKM) recorded a significant price increase on Friday (19/11), which was 7.44 percent to the level of Rp. 3,900 per share. One of the drivers was the buying action of foreign investors which on that day reached more than Rp 780 billion.

Telkom President Director Ririek Adriansyah said that another driving factor came from the initial public offering (IPO) initial public offering (IPO) PT Dayamitra Telekomunikasi (Mitratel) which has received great interest from investors.

According to him, the success of Mitratel’s IPO has motivated Telkom to continue to commit to transforming the company.

Mitratel’s business potential is predicted to be even better with tower ownership reaching more than 28,000 units. Ririek also believes that the presence of 5G network technology will increase operator needs for telecommunication towers.

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“The increasing interest of investors in Telkom’s shares can be one of the parameters that what is being done now is on the right track. We are optimistic that this transformation step will have more positive impacts,” said Ririek in his written statement, Sunday (21 /11).

The driving factor for the increase in stock prices also comes from Telkom’s performance until the first half of 2021 which is still positive with net profit growth double digit.

“It is projected that this positive performance will continue until the third quarter which is expected to be announced in the last week of November 2021,” said Ririek.

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