Jakarta, CNBC Indonesia – Connery Asia Limited recently announced the purchase of shares of PT Multipolar Tbk (MLPL) from PT Inti Anugerah Pratama (IAP), an entity of the Lippo Group as the controlling shareholder.
Connery has purchased 1.05 billion shares owned by the company. This value is equivalent to 7.2% ownership with an exercise price of IDR 555 per share on June 7, 2021 with investment objectives and direct ownership status. The value of this transaction reached Rp 583 billion.
Not only that, on June 3, 2021, IAP, whose shares are owned by the Riady family, also released 650 million shares to Connery at an exercise price of Rp. 450 per share. Thus, the sale value of the 650 million MLPL shares is Rp 292.50 billion.
In the disclosure of information conveyed by Multipolar’s management, Connery Asia Limited is an investment company domiciled in the British Virgin Islands and having its address at 3rd Floor, J&C Building, PO Box 362, Road Town, Tortola Virgin Islands (British), VG1110. The company is an affiliated company of PT Inti Anugerah Pratama.
“The background and purpose of the transaction is only an internal arrangement and restructuring,” said Multipolar, quoted on Friday (11/6/2021).
Management emphasized that there was no operational synergy expected by the company from the change in shareholders.
Thus, the company’s current shareholder is PT Inti Anugerah Pratama (IAP) with ownership of 9.74 billion shares or 66.47%. Connery Asia Limited holds 1.70 billion or 11.61% ownership. The rest, public shareholders amounted to 21.92%.
Currently, IDX is still temporarily suspending Multipolar stock trading. The stock exchange authority suspended MLPL shares in the first trading session yesterday (8/6/2021), in the regular market for cash market funds.
This temporary suspension of trading policy was due to a significant cumulative price increase in the shares of the company belonging to the Lippo group.
For information, currently MLPL shares are at a price of Rp. 675/share after yesterday’s trading closed up 17.39% on Monday (7/6/2021). In the last week this stock has strengthened 41.21%. In the last 6 months, this stock has strengthened up to 850.70%.
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