Surge (WIFI) Plans Rp 8.4 Trillion Fundraising to Expand Digital Infrastructure
Main Takeaways
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JAKARTA, Investortrust.id – PT Solusi Sinergi Digital Tbk (WIFI), also known as Surge, has launched two major corporate actions totaling Rp 8.4 trillion ($513 million) to accelerate the rollout of its national fiber-optic network.
The digital infrastructure company, controlled by Hashim Djojohadikusumo—the younger brother of President Prabowo Subianto—is issuing Rp 2.5 trillion ($153 million) in bonds and conducting a Rp 5.9 trillion ($360 million) rights issue, according to President Director Yune Marketatmo.
“This is more than a financing move—it reflects our commitment to building an inclusive and accessible digital future,” Yune said on Monday, June 23, 2025.
The bookbuilding process for the bond issuance began on Thursday, June 12, and will continue through Tuesday, June 25. Yune noted robust investor interest, signaling confidence in the company’s fundamentals and long-term growth potential.
Fiber Expansion Backed by NTT East
The Rp 2.5 trillion in bond proceeds will be used to scale Surge’s fiber-to-the-home (FTTH) broadband network across Java. Surge aims to leverage Indonesia’s railway infrastructure, deploying fiber at over 390 train stations in partnership with local collaborators.
The issuer, PT Integrasi Jaringan Ekosistem (IJE), is a joint venture between Surge and Japan-based NTT East, which holds a 49% stake. NTT East has fully backed the bond issuance as part of its shared mission with Surge to deliver reliable and affordable FTTH access in Indonesia.
“This endorsement reflects the project’s strong governance and execution quality,” Yune said.
OJK Greenlights Rp 5.9 Trillion Rights Issue
In tandem with the bond offering, Surge has secured an Effective Statement from Indonesia’s Financial Services Authority (OJK) to conduct a rights issue valued at Rp 5.9 trillion, effective Friday, June 20.
The proceeds will be injected entirely into IJE, with 98.36% allocated to building over 4 million FTTH connections across Java. Surge aims to complete 5 million home pass connections by the end of December 2025, reaching up to 40 million households within five years.
Yune said the initiative solidifies Surge’s position as a game changer in the national broadband sector.
“With support from regulators and the market, we are ready to extend affordable, high-speed internet access across Indonesia—delivering long-term value to our shareholders,” he said.