Dentons HPRP advises PT Solusi Sinergi Digital Tbk on US$364 million capital increase

Dentons HPRP has acted as legal counsel to PT Solusi Sinergi Digital Tbk (SSD), a publicly listed company operating in the advertising and telecommunications sectors, in connection with its first capital increase without pre-emptive rights. Through this Rights Issue I SSD 2025, the company seeks to raise approximately IDR 5.8 trillion (equivalent to US$364 million).

The proceeds from the capital increase will be used to support the continued expansion of fiber-to-the-home (FTTH) infrastructure and to finance lease deposits for FTTH networks through SSD's subsidiary, PT Integrasi Jaringan Ekosistem (IJE). This transaction marks a significant step in SSD's strategic development following its initial public offering in 2020. Since then, SSD has experienced rapid growth, particularly through IJE, and is positioning itself as a key player in Indonesia's evolving telecommunications landscape.

Given the company's relatively short listing history and the regulatory complexities surrounding capital increases without pre-emptive rights, the transaction involved careful legal and strategic considerations. Dentons HPRP provided comprehensive legal support throughout the process. This included conducting legal due diligence on SSD, reviewing and negotiating transaction documentation, and revising the prospectus to reflect up-to-date regulatory requirements. The firm also assisted SSD in interpreting and complying with capital market regulations and engaged with the Financial Services Authority (OJK) to ensure the transaction adhered to all applicable rules.

The matter was led by Partner Erwin Kurnia Winenda, supported by Senior Associate Rafi Andiandra Wardhana, and Associates Kevin Hans Silitonga, Pasha Soulaiman Kesumanagara, Jovanka Lingkanaya, Yabunaya Salsabila Yuniar, and Cindy Rahmatya Hadianti.

Dentons HPRP has a long-standing track record of advising clients on complex capital markets transactions, both equity and debt. With deep knowledge of Indonesia's regulatory environment and extensive experience in representing issuers, underwriters, and other stakeholders, our Capital Markets team provides strategic and practical legal solutions tailored to each client's needs.

For more information about our services in Capital Markets, please contact the Partner listed under Key Contact.

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