JAKARTA – PT Bhineka Abadi Investama (BAI) performs a mandatory tender over 315,604,000 shares of PT Sawangan Investasi Indonesia (SII) in PT Pakuan Tbk (UANG) for IDR 514 each, equal to IDR 162.22 billion. This number is equivalent to 26.08% of UANG’s entire issued and paid-up capital.
In the information disclosure quoted Monday (28/6), the said transaction is a continuation of the sales and purchase agreement regarding the transfer of 697,950,000 shares, or 57.68% of the entire issued and paid-up capital, worth IDR 358.58 billion. The agreement involves BAI and SII as UANG’s stock controller. It takes place on March 25, 2021, using a crossing method in the negotiation market in Indonesia Stock Exchange (IDX).
This corporate action spans for a month, starting last weekend (26/6) until July 27, 2021. SII’s divestment is intended to cover the debt of SII and its subsidiaries, PT Volta Pasifik Aviasi and PT Bumame Utama Indonesia, to PT Bank Pan Indonesia (Panin) Tbk (PNBN).
Prior to this transaction, UANG’s authorised capital is IDR 360 billion and its issued and paid-up capital is IDR 121 billion. SII controls 73.92% of the shares, and the public shares the remaining 26.08%. After the transfer, UANG’s ownership structure would change into BAI owning 57.68% of the shares, SII 16.24%, and the public 26.08%. (LK/ZH)