JAKARTA. Mahogany Global Investment Pte Ltd plans to acquire 510.88 million shares of PT Wahana Interfood Nusantara Tbk (COCO) in a mandatory tender offer (MTO), which will last a month.
The total funds drawn by Mahogany in the MTO will amount to IDR 162.97 billion. The total shares that Mahogany will acquire will equal 57.41% of COCO’s entire shares, offered for IDR 319 per share.
“Mahogany Global Investment has sufficient funds to make a full payment during this mandatory tender offer,” the management of COCO reaffirmed in the information disclosure in Indonesia Stock Exchange (IDX).
The tender offer is scheduled to kick off on January 26, 2022, and end on February 24, 2022. Meanwhile, the payment of the acquired shares will be collected on March 8, 2022.
Based on idnfinancials.com data, Mahogany was known to take over the majority of COCO’s shares. It was intended to enhance Mahogany’s portfolio in the cacao and chocolate industry.
As of January 7, 2022, Mahogany reportedly acquired 37.16% of COCO’s shares. The small 5.42% belonged to PT Inter Jaya Corpora, followed by public investors that shared 57.41%, each owning less than 5%. (KR/ZH)