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SMGR prepares to buy SMCB public shares through tender offer

12 February 2019 07:19 AM  Company: PT. Solusi Bangun Indonesia Tbk[SMCB]
Rp. 1,495  +195 (15%)

JAKARTA. PT Semen Indonesia Tbk (SMGR) is preparing a mandatory tender offer for the remaining public shares in PT Solusi Bangun Indonesia Tbk (SMCB), previously known as PT Holcim Indonesia Tbk.

This is to comply with the Financial Services Authority (OJK) Regulation Number 9 of 2018 concerning Takeover of Public Companies. The company is obliged to buy the remaining public shares after taking over more than 80% of the shares. SMGR said it had reported to OJK for the mandatory tender offer (MTO) process.

As of January 31, 2019, PT SMGR has taken over the stake of Holderfin B.V. in Holcim Indonesia. The takeover was carried out by the company's subsidiary, PT Semen Indonesia Industri Bangunan (SIBB), with the purchase of 6,179,612,820 shares (80.64% stake previously owned by Holderfin B.V.) at a price of Rp 2,097 per share with a total value of around Rp 12.95 trillion.

With the stake above 80%, SMGR is preparing to conduct this tender offer. "Yesterday we told the Financial Services Authority, we will buy at the same price. It has been reported and is just waiting for the OJK's approval. Usually the offer will be advertised for 30 days," explained SMGR Corporate Secretary Agung Wiharto after the Extraordinary General Meeting of Shareholders of SMCB on Monday (11/2). (AM/MS)

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PT. Solusi Bangun Indonesia Tbk [SMCB]   Rp. 1,495   +195 (15%)