JAKARTA - China Merchants International Port Integrated Development (Hong Kong) Company Limited (CMIPD) is conducting a tender offer of 725.97 million shares of PT Nusantara Pelabuhan Handal Tbk (PORT). This corporate action will take place from September 3 to October 2, 2024.
In the short prospectus quoted today (10/9), PORT’s shares that will be offered in the tender are said to be equal to 25.80% of total paid-up capital, offered for IDR 818 per share.
The price is much higher than when CMIPD took over PORT’s shares from PT Episenta Utama Investasi (EUI), of IDR 660 per share. Indeed, the average highest price of the stock within the past 90 days before the acquisition announcement, starting from August 24 to November 21, 2023, was at IDR 817.86 per share.
With the tender offer set to IDR 818 per share, the total shares value reached IDR 593.84 billion. CMIPD, as the new controller, claims to have sufficient fund to lead this corporate action.
As of now, PORT’s shares clock up to 2.81 billion, with CMIPD owning 51% of them, followed by EUI of 23.201%, PT Prima Permata Cakrawala of 5.438%, and the public of 20.361%. (LK/ZH)