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PCI sets IDR 626.21 billion for PALM tender offer

05 September 2022 06:17

JAKARTA – PT Provident Capital Indonesia (PCI) estimates the value of the tender offer of 10.41% of PT Provident Investasi Bersama Tbk (PALM) to reach IDR 626.21 billion. This corporate action commenced last week (1/9) and will last until September 30, 2022.

In the prospectus of said tender offer quoted Monday (5/9), PCI, the primary shareholder of PALM, is mentioned to voluntarily offer 736,728,500 shares for IDR 850 each. The price exercised in this tender offer refers to the average stock price in the market for the past 90 days, starting from April 4 to July 21, 2022.

PCI is one of the co-controlling shareholders alongside PT Saratoga Sentra Business (SSB) since 2017. After this corporate action, the number of PCI’s shares will arrive at 3,880,929,391 units at most, representing 54.58% of the entire paid-up capital.

As of now, PCI has 44.16% of the entire issued and paid-up capital of the company, which amounts to 106,793,105,340 units. SSB owns 19.88% of them, followed by Garibaldi Thohir of 12.50%, Winato Kartono of 5%, Hardi Wijaya Liong of 3.75%, Tri Boewono of 0.93%, Devin Antonio Ridwan of 0.31%, Maruli Gulton of 0.03%, and the public of 12.83%. (LK/ZH)

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