Jakarta, CNBC Indonesia – President Director of PT Adaro Energy Tbk (ADRO) Garibaldi ‘Boy’ confirmed his plan to acquire 49% stake in securities company, PT Trimegah Sekuritas Indonesia Tbk (TRIM) from Advance Wealth Finance Ltd.
According to Boy, the share acquisition process is still ongoing. In an announcement made in the mass media, Boy Thohir has signed a non-binding term sheet for the plan to take over TRIM shares.
“Still in process, I will update in more detail later,” said Boy Thohir, to CNBC Indonesia, Monday (4/10/2021).
However, Boy did not elaborate further on the amount of investment disbursed and the background of the plan to take over the shares of the securities company in line with the initiation of Go-To’s IPO plan to the stock market. The reason is, Garibaldi is listed as an Independent Commissioner at PT Applications Karya Anak Bangsa (Gojek).
“In essence, I am very optimistic about the future of the Indonesian economy after Covid-19 and of course also for the Indonesian capital market, especially since there are so many millennials who are now active on the Indonesia Stock Exchange,” he explained.
The Boy Thohir consortium plans to buy Advance’s 3,500,000,000 shares in TRIM, which is 49.23% of the total shares issued by TRIM which, if completed, will result in a change of control over this securities company.
“The purpose of this takeover plan is for investment and business development of the Boy Thohir consortium in the Indonesian capital market,” Boy Thohir wrote, quoted Monday (4/10).
On the announcement date of this negotiation, Boy Thohir who is also the brother of SOE Minister Erick Thohir confirmed that he does not own either directly or indirectly TRIM shares.
The candidate for the new controller or the Boy Thohir consortium will carry out a mandatory tender offer in accordance with the provisions of POJK Number 9/2018. A tender offer is an obligation for a new controlling investor to offer to buy shares of other investors, including public investors.
As of June 2021, TRIM shares are held by Advance Wealth 49.23% (3.5 billion shares), PT Union Sampoerna 9.85%, Stephanus Turangan 0.31%, David Agus 0.25%, Syafriani Armand Saleh 0.24% , public 40.12%.
IDX data noted that at the beginning of session I, TRIM’s shares shot up 16.35% at Rp 370/share with a transaction value of Rp 48 billion. If the TRIM price is assumed to be Rp 318/share in last Friday’s trading, this transaction could potentially be worth Rp 1.11 trillion.
(hps / hps)
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