JAKARTA - Conglomerates Jerry NG and Garibaldi 'Boy' Thohir through Trinugraha Capital & Co SCA (TC) will conduct a voluntary tender offer for PT BFI Finance Tbk (BFIN) shares worth IDR 10.96 trillion.
In the prospectus, quoted on Friday, January 21, TC stated that it would conduct a voluntary tender offer of 9.131.865.960 (rounded up to 9.13 billion) shares representing 57.19 percent of the total issued and fully paid shares in BFIN.
"The offering price is IDR 1.200 per share, which is determined based on the average price of 90 days before January 20, 2022," explained TC management in the prospectus.
With an implementation price of IDR 1.200, the total value of the voluntary tender could reach the range of IDR 10.96 trillion. The following is the schedule for the voluntary tender of BFIN shares by TC.
Effective statement by OJK: February 18, 2022
Voluntary tender offer statement date: February 21, 2022
Voluntary tender offer period: February 22 - March 23, 2022
Estimated payment date: April 4, 2022
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After the voluntary tender, assuming all shareholders tender their shares, TC will hold 100 percent of BFIN's shares. However, TC is committed to BFIN being able to fulfill the free float requirement, which is at least 7.5 percent of the shares are owned by the public.
Prior to the tender or at this time, the composition of BFIN's shareholders was TC 42.81 percent, DB SPORE DCS A/C NTASIAN DISCOVERY FUND 5.23 percent, public 45.68 percent, and treasury shares 6.28 percent.
Meanwhile, the composition of TC shareholders after the completion of the plan to increase the issued and paid-up capital is BIL 57.12 percent, Baltica International Limited 42.14 percent, Okeanos Investment Limited 0.43 percent, Garibaldi Thohir 0.32 percent, and Trinugraha Capital 0.00 percent.
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