Aseana to hold an MTO for ABDA’s shares

18 October 2022 06:14

JAKARTA – Aseana Insurance Pte Ltd, the new controlling shareholder of PT Asuransi Bina Dana Arta Tbk (ABDA), will commence the mandatory tender offer of 79,608,746 shares from October 18 to November 11, 2022.

Ratih Kusumadilaga, Corporate Secretary of ABDA, confirmed that said corporate action entailed the completion of the purchase agreement of 63.33% of ABDA’s total shares on August 31, 2022. “The transaction was worth IDR 120.49 billion,” she revealed further in the information disclosure quoted today (18/10).

The price of the shares involved in the MTO is set to IDR 6,803 each. Cumulatively, the value of this transaction clocks up to IDR 541.57 billion.

Aseana is registered under Singaporean law and is known to be domiciled in 50 Collyer Quay, UOE Bayfront, Singapore. (LK/ZH)

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