Smartfren Exits Stock Exchange
Smartfren Telecom to Delist from Indonesian Stock Exchange Following XL Axiata merger
Table of Contents
- Smartfren Telecom to Delist from Indonesian Stock Exchange Following XL Axiata merger
- Smartfren Telecom Delisting: Your Questions Answered
- What’s happening with Smartfren Telecom (FREN)?
- why is Smartfren Telecom (FREN) being delisted?
- What does “delisting” mean for FREN shareholders?
- How does the merger impact FREN and EXCL shareholders?
- What is the name of the merged entity resulting from the Smartfren and XL Axiata merger?
- When did the merger become official?
- What are the key financial projections for XLSmart?
- How many FREN shares will be converted into EXCL shares?
- What will be the total number of shares after the merger?
- Where can I find more details about the merger and corporate actions?
- Summary of Key Merger Aspects
JAKARTA – PT smartfren Telecom Tbk (FREN) will be delisted from the Indonesian capital market, effective April 17, 2025. The decision follows approval from the Indonesia Stock Exchange (BEI) regarding FREN’s delisting request.
The delisting is directly related to the planned merger between Smartfren and PT Smart Telecom into PT XL Axiata Tbk (EXCL). According to IDX Regulation Number IG, item A number 8, concerning business mergers, the Capital Market Authority has approved the delisting of FREN shares.
“Therefore, starting April 17, 2025, PT Smartfren Telecom Tbk (FREN) shares will no longer be traded on the Indonesia Stock Exchange,” BEI management stated in a release dated Thursday, April 17, 2025.
The BEI has advised all interested parties to closely monitor announcements related to the merger between FREN and EXCL, especially the schedules for upcoming corporate actions.
The merger will result in 5.07 billion FREN shares being converted into EXCL shares, bringing the total number of shares after the merger to 18.2 billion.
FREN and EXCL officially agreed to merge after an Unusual General Meeting of Shareholders (EGMS) held on Tuesday, March 25, 2025. The resulting entity will operate under the name XLSmart.
The combined pre-synergy value of the merged entity is estimated at Rp 104 trillion, with an anticipated pre-tax synergy value of US$300-400 million annually. Proforma revenue is projected to reach Rp 45.8 trillion.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) are projected at Rp 22.5 trillion, serving a combined customer base of 94.5 million. the joint market share is estimated to be 25%.
Smartfren Telecom Delisting: Your Questions Answered
What’s happening with Smartfren Telecom (FREN)?
PT Smartfren Telecom Tbk (FREN) is being delisted from the Indonesian Stock Exchange (IDX). This means its shares will no longer be traded on the exchange, effective April 17, 2025. This decision follows approval from the Indonesia Stock Exchange (BEI) related to the delisting request.
why is Smartfren Telecom (FREN) being delisted?
The delisting of FREN is directly tied to the merger of Smartfren and PT Smart Telecom into PT XL Axiata Tbk (EXCL). The Indonesia Stock Exchange’s (BEI) approval of the delisting aligns with the regulatory framework for business mergers.
Delisting means that shares of FREN will no longer be publicly traded on the IDX. Existing shareholders of FREN will have their shares converted into shares of EXCL as part of the merger agreement.
The merger will result in a notable shift in the corporate structure. Here’s what shareholders need to know:
FREN Shareholders: Their shares will be converted into EXCL shares. The exact ratio is detailed in the merger documents.
EXCL Shareholders: They will own shares in the expanded, merged entity, called XLSmart.
What is the name of the merged entity resulting from the Smartfren and XL Axiata merger?
the resulting entity from the merger of Smartfren and XL Axiata will operate under the name XLSmart.
When did the merger become official?
The merger was officially agreed upon after an Unusual General Meeting of Shareholders (EGMS) held on tuesday, March 25, 2025.
What are the key financial projections for XLSmart?
The merged entity, XLSmart, is expected to have significant financial strength. Here’s a quick overview:
Pre-Synergy Value: Rp 104 trillion
Anticipated pre-Tax Synergy Value: US$300-400 million annually
Proforma Revenue: Rp 45.8 trillion
Earnings Before Interest,Taxes,Depreciation,and amortization (EBITDA): Rp 22.5 trillion
Combined Customer Base: 94.5 million customers
Joint Market Share: 25%
The merger plan involves the conversion of 5.07 billion FREN shares into EXCL shares.
Following the conversion of FREN shares, the total number of EXCL shares will be 18.2 billion.
Where can I find more details about the merger and corporate actions?
the Indonesia Stock Exchange (BEI) advises interested parties to closely monitor announcements related to the merger between FREN and EXCL, particularly regarding the schedules for upcoming corporate actions. Keep an eye on official announcements from the relevant authorities and companies.
Summary of Key Merger Aspects
Here is a summary table of the key aspects of the merger:
| Aspect | Details |
|---|---|
| Delisting Date | April 17, 2025 |
| Companies Involved | Smartfren Telecom (FREN) and XL Axiata (EXCL) |
| Merged Entity Name | XLSmart |
| Share Conversion | 5.07 billion FREN shares into EXCL shares |
| Total Shares After Merger | 18.2 billion |
| Pre-Synergy Value | Rp 104 trillion |
| Projected Revenue | Rp 45.8 trillion |
| EBITDA | Rp 22.5 trillion |
| Combined customer Base | 94.5 million |
| Joint Market Share | 25% |