Conglomerate Chairul Tanjung - Bukalapak Will Sell Vegetables And Fresh Food, CT: Just Wait!

JAKARTA - Chairul Tanjung conglomerate will further strengthen its relationship with PT Bukalapak.com Tbk (BUKA). This is in line with the entry of the e-commerce company as a strategic investor for PT Allo Bank Indonesia Tbk (BBHI).

Chairul Tanjung said that the CT group through PT Trans Retail would form a joint venture company with Bukalapak which is engaged in the e-commerce business. The items that will be sold will be specifically for vegetables and fresh food or fresh and grocery.

"Trans Retail is in the process of forming an e-commerce joint venture specifically for fresh and grocery," said the man who is familiarly called CT, Tuesday, January 11.

CT further said that Trans Retail would later own a 55 percent stake in the joint venture. Meanwhile, Bukalapak will shrink 45 percent.

However, CT still has not disclosed in detail about the business that was built with the e-commerce company.

"Just wait," he said.

CT's close relationship with Bukalapak began with the entry of the e-commerce company into Allo Bank's strategic investor through a rights issue that is currently in progress.

This bank will issue new shares with pre-emptive rights (HMETD) of 10.04 billion or 46.24 percent of the issued and fully paid-up capital at a price of Rp478 per share.

Chairul Tanjung through Mega Corpora, which controls 90 percent of BBHI's shares, is currently only committed to executing 30 percent of its rights in the rights issue. The rest has been transferred to a number of investors including Bukalapak and the Salim Group.

Based on the rights issue prospectus, CT has signed an agreement to transfer its rights to Bukalapak on December 24, 2021, totaling 2,497,816,903 Rights.

After the rights issue is completed, Bukalapak's ownership in BBHI will reach 11.49 percent with the assumption that shareholders and strategic investors who get the transfer of rights from the main shareholder exercise their rights to buy new shares.

In addition to Bukalapak, CT has also signed the transfer of rights in the rights issue to a number of other investors, such as the Salim Group through PT Indolife Investama Perkasa, Abadi Investments Pte Ltd, H Holdings Inc, and Trusty Cars Pte Ltd.