JAKARTA - PT Mark Dynamics Indonesia Tbk (MARK), is exploring the idea to expand to the field of agricultural equipment by acquiring 99% of PT Berjaya Dynamics Indonesia (BDI) shares and 33% of PT Agro Dynamics Indo (ADI) shares.
According to the disclosure quoted on Tuesday (7/7), MARK acquired 997,481 of BDI shares owned by Chin Kien Ping and 534,132 of ADI shares, consisted of 502,926 shares belonging to Kien Ping and 31,206 shares owned by Sutiyoso Bin Risman. MARK will spend Rp 70 billion on the transaction that will be paid in three stages. The first payment is Rp 47.50 billion for BDI shares, the second payment is Rp 21.20 billion for some of ADI shares, and the third payment is Rp 1.30 billion for the remaining ADI shares.
This corporate action was approved by MARK and BDI's commissioners on 17 March 2020 and BDI's shareholders on 29 June 2020. (LK/AR)