JAKARTA. Auric Digital Retail Pte Ltd (BidCo) to become the new controller of PT Matahari Department Store Tbk (LPPF) by dominating 50.12% of LPPF shares. This recent position change would take place following the voluntary tender offer (VTO) initiated by Auric Digital of LPPF’s shares amounting to 1.05 billion units, equivalent to 40% of its total shares.
The offering price was set at IDR 1,530 per unit, while the VTO period would be revealed later. The official prospectus of the VTO claimed that by the starting date of the tender offer, Auric Digital owned 500 units of shares of Matahari Dept. Store.
The same prospectus also specified that after the VTO period ended, Auric Digital would acquire 139.82 million of LPPF’s shares from Greater Universal Ltd. It would also purchase another 125.97 million shares from OUE Investment Pte Ltd., which was equal to 10.12% of LPPF’s entire stock.
After the purchase of shares and VTO, Auric Digital would obtain 1.31 billion units of shares, equivalent to 50.12%, thus becoming the new controlling stockholder of Matahari. Currently, LPPF’s shares were primarily owned by the public by 52.55%, followed by PT Multipolar Tbk (MLPL) by 19.42%. The remaining portion was distributed among financial institutions with less than 10% each. (AM/ZH)