(Bloomberg) -- PT Dayamitra Telekomunikasi, the infrastructure services unit of state-owned PT Telkom Indonesia, has picked banks to arrange its potential initial public offering in what could be the country’s biggest first-time share sale, according to people with knowledge of the matter.Mitratel, as the company is known, has chosen HSBC Holdings Plc, JPMorgan Chase & Co. and Morgan Stanley to work on the planned Jakarta IPO, the people said. BRI Danareksa Sekuritas and Mandiri Sekuritas were also selected to help arrange the listing, the people said, asking not to be identified as the process is private.The company aims to raise about $1 billion from the first-time share sale as soon as this year, Bloomberg News reported on Tuesday. At $1 billion, the IPO would be the largest in the country to date since PT Indofood CBP Sukses Makmur’s $696 million offering in 2010, according to data compiled by Bloomberg.Mitratel could add more banks to the lineup at a later date, one of the people said. Deliberations are ongoing and details of the offering including size and timeline could change, the people said.Preparations for the Mitratel IPO are underway and the company will give more details in due course, Ririek Adriansyah, president director of Telkom Indonesia, said in response to a Bloomberg News query.Representatives for HSBC, JPMorgan and Morgan Stanley declined to comment.A representative for Mandiri Sekuritas couldn’t immediately comment. A representative for BRI Danareksa Sekuritas didn’t immediately respond to requests for comment.Mitratel manages more than 16,000 telecommunication towers throughout Indonesia, according to its website. It signed a deal in October with PT Telekomunikasi Selular, another Telkom Indonesia unit, to buy 6,050 towers.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.