Indosat Ooredoo (ISAT) will issue 2.62 billion shares, or 32.6% of enlarged capital, to PT Hutchison 3 Indonesia (H3I) for the merger purpose. The surviving entity (ISAT) will have a pro-forma total asset of Rp100.95 trillion and equity of Rp23.48 trillion. ISAT has a market capitalization of Rp37 trillion or 1.6 x enlarged equity at the last quoted price. But, if the merger is completed (effective on Dec. 1, 2021) and the total issued and paid-up capital increased to 8.06 billion shares, while the price remained at Rp6,775, ISAT’s market cap would be Rp54.6 trillion. 

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