- 89 -
Calendar Year Price per Share of Common Stock
Volume shares
Outstanding Shares
Capitalization Rp billion
High Low
in Rupiah Closing
Third Quarter 1,970
1,590 1,890
5,100,152,500 95,767,844,100
190,512 Fourth Quarter
1,990 1,730
1,810 5,769,975,000
95,745,344,100 182,448
2013 2,580
1,760 2,150 27,839,305,000
97,100,853,600 216,720
First Quarter 2,230
1,760 2,200
5,993,025,000 95,745,344,100
221,760 Second Quarter
2,580 1,900
2,250 8,265,647,500
96,044,401,100 226,800
Third Quarter 2,450
1,950 2,100
7,206,438,500 97,100,853,600
211,680 Fourth Quarter
2,375 1,980
2,150 6,374,194,000
97,100,853,600 216,720
September 2,450
1,950 2,100
2,644,068,500 97,100,853,600
211,680 October
2,375 2,100
2,350 2,019,709,500
97,100,853,600 236,880
November 2,350
2,025 2,175
2,055,114,500 97,100,853,600
219,240 December
2,200 1,980
2,150 2,299,370,000
97,100,853,600 216,720
2014
January 2,275
2,060 2,275
1,758,433,800 97,100,853,600
229,320 February
2,420 2,170
2,325 2,015,617,700
97,100,853,600 234,360
Market capitalization is calculated by multiplying the share price by the number of issued and fully paid shares which is 100,799,996,400 shares.
The price per share of the common stock on the table above reflects this two splits for all periods shown:
We conducted a two for one split of our common stock from a nominal value of Rp500 per share to Rp250 per share as resolved by the AGMS on July 30, 2004, effective October 1, 2004.
We conducted a five for one split of our common stock from a nominal value of Rp250 per share to Rp50 per share as resolved by the AGMS on April 19, 2013, effective September 2, 2013.
On December 30, 2013, the last day of trading on the IDX in 2013, the closing price for our common stock was Rp2,150 per share.
The high, low, closing prices and trading volume for our ADSs on the NYSE and the LSE for the periods indicated are shown in the table below. Trading in ADSs is effected “off exchange” on the LSE. Under LSE rules, off exchange trading means that
transactions are carried out on other exchanges and once the transaction has taken place, it is reported to the LSE.
Calendar Year Price per ADS NYSE
Volume in ADS
Price per ADS LSE Volume
in ADS High
Low in US
Dollars Closing
High Low
in US Dollars
Closing 2009
41.55 20.19
39.95 67,767,999
40.76 25.67
41.02 3,757
2010 43.80
30.33 35.65
69,803,576 42.00
30.76 34.91
19,673
2011 36.96
30.29 30.74
69,279,100 35.89
21.02 30.50
1,406,292
2012 41.14
29.26 36.95
88,190,589 40.12
30.24 36.50
746,278 First Quarter
31.69 29.26
30.36 19,265,880
31.04 30.24
30.95 236,546
Second Quarter 37.00
30.38 34.83
32,660,280 36.64
30.40 33.70
293,809 Third Quarter
41.14 34.28
38.93 19,696,121
39.78 34.30
39.10 88,412
Fourth Quarter 41.00
36.00 36.95
16,568,308 40.12
36.50 36.50
127,511
2013 50.61
33.75 35.85
67,061,105 50.59
33.44 35.33
6,579,103 First Quarter
45.32 36.17
45.08 13,876,752
45.83 37.06
45.28 12,819
Second Quarter 50.61
38.75 42.74
15,688,290 50.59
39.31 45.34
6,465,258 Third Quarter
47.20 34.54
36.31 18,713,653
47.44 35.62
36.27 79,240
Fourth Quarter 41.69
33.75 35.85
18,782,410 41.69
33.44 35.33
21,786 September
42.39 34.54
36.31 6,791,001
42.10 35.62
36.27 44,011
October 41.69
36.95 40.76
5,975,745 41.69
37.29 41.69
20,830 November
40.90 34.70
36.54 5,866,608
40.95 34.43
36.36 December
37.21 33.75
35.85 6,940,057
37.38 33.44
35.33 956
2014
January 37.49
33.91 36.27
5,498,292 37.26
33.83 37.36
February 40.53
35.19 39.23
5,149,305 38.06
35.98 38.06
On December 31, 2013, the last day of trading on the NYSE and LSE in 2013, the closing price for one Telkom ADS was US36 and US35, respectively.
B. PLAN OF DISTRIBUTION
Not applicable.
- 90 - C.
Our common stock is listed and traded on the IDX. Our ADSs are also listed and traded on the NYSE and the LSE as ADSs, where one ADS represents 200 shares of Common Stock. Our shares are also Publicly Offered Without Listing “POWL” in
Japan.
The Indonesian Stock Market
Indonesia’s stock market, known as the IDX, grew out of the December 1, 2007 merger of two stock exchanges operating in two different locations in Indonesia, the Jakarta Stock Exchange in the capital and the Surabaya Stock Exchange in East Java.
As of December 31, 2013, the IDX had 483 issuers for equity and 114 active brokerage houses. In 2013, IDX recorded a trading volume of 1,343 billion shares. As of December 31, 2013, the total market capitalization was valued at Rp4,219 trillion US346.7 billion.
Trading is divided into three segments: the regular market, negotiated market and the cash market except for rights issues, which can only be traded on the cash market and the negotiated market for the first session. The regular market is the mechanism for trading stock
in standard lots on a continuous auction basis during exchange hours. Auctions on the IDX on regular market and cash market take place according to the price and time priorities. Price priority refers to the giving of priority to buying orders at a higher price or selling orders
at a lower price. If buying or selling orders are placed at the same price, priority is given to the earlier placed buying or selling order time priority. Trading on the negotiated market is conducted through direct negotiation between i IDX members, ii clients through one
IDX member, iii a client and an IDX member, or iv an IDX member and the PT Kliring Penjaminan Efek Indonesia “KPEI”. KPEI provides clearing and guarantee services of stock exchange transactions settlement. It also improves efficiency and certainty of
transactions settlement in IDX.
On November 14, 2012, IDX issued a Decree of BOD No. Kep-00399BEI11-2012 regarding the Change of Trading Regulation No. IIA on Equity – Type Securities Trading which changed the IDX’s trading hours, effective January 2, 2013, with trading sessions as
follows:
Trading Session Market
Day Trading Hours
Pre-opening Regular
Monday –
Friday 08.45.00
– 08.55.00
1
st
Regular Monday
– Thursday
09.00.00 –
12.00.00 Cash
Friday 09.00.00
– 11.30.00
Negotiation 2
nd
Regular Monday
– Thursday
13.30.00 –
15.49.59 Friday
14.00.00 –
15.49.59 Negotiation
Monday –
Thursday 13.30.00
– 16.15.00
Friday 14.00.00
– 16.15.00
Pre-closing Regular
Monday –
Friday 15.50.00
– 16.00.00
Post Trading Regular
Monday –
Friday 16.05.00
– 16.15.00
On November 8, 2013, IDX issued a Decree of BOD No. Kep-00071BEI11-2013 regarding the Change of Trading Regulation No. IIA on Equity – Type Securities Trading that change the lot size, tick price and maximum price movement, effective January 2, 2013,
lot size changed from 500 shares to 100 shares and tick price and maximum share price movement changed as follows:
Previous New
Group Price Tick Price
Maximum Share Price
Movement Group Price
Tick Price Maximum
Share Price Movement
≤Rp200 Rp1
Rp10 ≤Rp500
Rp1 Rp20
Rp200 – Rp500 Rp5
Rp50 Rp500 – Rp2,000
Rp10 Rp100
Rp500 –
Rp5,000 Rp5
Rp100 Rp2,000 – Rp5,000
Rp25 Rp250
≥Rp5,000 Rp50
Rp500 ≥Rp5,000
Rp25 Rp500
Transactions on the IDX regular market must be settled no later than the third trading day after the transaction. Transactions on the negotiated market are settled on the basis of the agreement between the selling exchange members and the buying exchange members, on
a transaction by transaction basis. Transactions on the IDX cash market must be settled on the day of the transaction and reported to the IDX. If an exchange member defaults on the settlement of a transaction, the securities can be traded by direct negotiation on cash and
- 91 - carry terms. Each exchange member is required to pay a transaction fee as stipulated by the IDX. Any delay in payment of the transaction
When conducting share transactions on the IDX, each exchange member is required to pay a transaction cost for transactions on the regular market and cash market of 0.03, guarantee fund of 0.01 of the transaction value and VAT and other tax obligation. For the
negotiated market, a transaction cost is 0.03 or depended any other amount stipulated by the IDX is applicable. A minimum monthly transaction fee of Rp2 million is applied as a contribution for the provision of exchange facilities and continues in effect for members
who are suspended or Exchange Member Approval “SPAB” revoked.
Since the global financial crisis in the last quarter of 2008 that caused a typical share price movements, the IDX has applied a policy of auto rejection, a mechanism whereby share trading can be halted automatically in order to maintain orderly, fair and efficient trading.
Following changes made by the IDX in October 2008 and January 2009 the auto rejection trigger levels are 35 above or below the reference price for stocks in the Rp50 - Rp200 price range, 25 for stocks in the Rp200 to Rp5,000 range, and 20 for stocks priced
above Rp5,000. The auto rejection level in the case of an IPO is determined at a level which is twice as high as for normal trading. Auto rejection also arises when selling offer or buying request volume reaches of over 5 billion shares or 5 of total shares listed,
whichever is smaller.
Trading on the NYSE and LSE
See Item 12 “Description of Securities Other Than Equity Securities”.
D. SELLING STOCKHOLDERS
