Hapsoro-linked RATU posts surge in profit, prepares private placement
JAKARTA – PT Raharja Energi Cepu Tbk (RATU), the oil and gas company controlled by Hapsoro, has announced plans to raise capital through a private placement without pre-emptive rights.
The announcement came ahead of the release of RATU's first-half financial results, which showed a strong performance.
According to the company's financial statements, RATU's net profit surged 92.25% year on year to USD 14.55 million in the first half of 2026. The increase was in line with its net revenue, which rose 1.97% to USD 25.64 million.
RATU also recorded significant gains from foreign exchange differences amounting to USD 1.83 million, a net bargain purchase gain of USD 3.91 million, and a share of profit from associates totalling USD 3.83 million.
In a disclosure submitted to the Indonesia Stock Exchange on Friday (31/7), RATU said it plans to issue 271.5 million new shares through the private placement. The issuance is equivalent to 10% of the company's total outstanding shares.
RATU's management has yet to announce the issue price for the new shares. However, based on the company's closing share price of IDR 5,000 on Thursday (30/7), the private placement could raise as much as IDR 1.35 trillion.
"There are currently no prospective investors who have expressed an intention to subscribe for the new shares to be issued through the company's private placement," RATU's management said.
The company will seek shareholder approval for the proposed private placement at a general meeting scheduled for 8 September 2026.
Proceeds from the transaction will be used partly for working capital and business expansion, including capital expenditure, acquisitions of shares and assets, lending activities, and other transactions deemed appropriate.
However, the proposed corporate action could dilute the shareholdings of RATU's existing investors by up to 9.09%.
The majority of RATU's shares are currently controlled by PT Rukun Raharja Tbk (RAJA), which holds a 68.68% stake, while public investors own the remaining 31.32%. (KR/ZH)
