PT Perdana Karya Perkasa Tbk (PKPK) is set to acquire shares owned by PT Deli Pratama Batubara (DPB) in PT Bhakti Harapan Sentosa (BHS). The company plans to take over 14.9 million DPB shares.
In its concise prospectus on Wednesday (1/11/2023), PKPK management stated its intention to purchase 14,991,000 shares, equivalent to 99.94% of the total fully paid-up and placed capital in BHS owned by DPB, amounting to IDR 165 billion. The funding for this acquisition will come from the unused portion of the public offering (rights issue).
DPB holds the controlling shares directly in the company, as per the Shareholders List issued by PT Raya Saham Registra as of October 30, 2023. DPB owns 890,051,418 shares, constituting 74.17% of the total fully paid-up and placed capital in the company.
Thus, DPB, as the seller in the transaction plan, is the controlling shareholder of PKPK, making this an Affiliated Transaction in accordance with OJK regulations under POJK 42/POJK.04/2020.
BHS has a subsidiary, namely PT Tri Oetama Persada (TOP), with a 70% ownership stake in the fully paid-up and placed capital of TOP. TOP holds a Mining Business License for Production Operations (IUPOP) covering a 10,000-hectare coal mine. The Transaction Plan does not result in a change of control, either directly over BHS or indirectly over TOP.
PKPK management has considered that the transaction plan could contribute by increasing the investment value of shares and yielding better returns for the company. They will seek approval from shareholders in an Extraordinary General Meeting (EGM) scheduled for December 15, 2023.
Image source: PKPK
Source: www.emitennews.com/Perdana Karya Perkasa PKPK Akuisisi 149 Juta Saham Deli Pratama Batubara
