Disbursing IDR 2.03 Trillion, The Hartono Brothers Conglomerate Through Blibli Officially Bought Ranch Market

Ranch Market outlets. (Photo: Doc. SkyscraperCity)

JAKARTA - The Djarum Group belonging to conglomerates Robert Budi Hartono and Bambang Hartono through Blibli (PT Global Digital Niaga) officially acquired shares in retail company PT Supra Boga Lestari Tbk (RANC) aka Ranch Market on Thursday, September 30.

Reporting from Bisnis.com, the duo of the richest people in Indonesia bought the majority of Ranch Market shares above the market price. Blibli has completed the takeover of 797.88 million shares of RANC, or approximately 51 percent of the issued and paid-up capital.

It was stated that Blibli annexed the majority stake in RANC for IDR 2,550, bringing the total takeover transaction to IDR 2.03 trillion. Blibli acquired ownership of 7 RANC shareholders, namely PT Wijaya Sumber Sejahtera, PT Prima Rasa Inti, PT Gunaprima Karyaperkasa, PT Ekaputri Mandiri, Dr. David Kusumodjojo, Suhamo Kusumodjojo, and Harman Siswanto.

For information, RANC shares rose 3.42 percent to IDR 2,420 at the end of trading on Thursday, September 30. This means the acquisition by Blibli for IDR 2,550 above the market price. RANC's share transactions in the regular market reached 5.18 million shares with a transaction value of IDR 12.47 billion.

However, in the negotiating market, there were transactions of 811.1 million shares with a transaction value of IDR 2.1 trillion. Where the transactions were almost entirely carried out by domestic investors.

Based on RTI data, the top sellers and top buyers of RANC shares in the negotiating market are BCA Sekuritas with broker code SQ. As is known, BCA Sekuritas is an entity of PT Bank Central Asia Tbk (BBCA), which is part of the Djarum Group.

To note, the negotiation market is trading between shareholders that are carried out individually. However, the buying and selling process remains through the securities company and is registered in the securities trading system.

According to the Board of Directors of Global Digital Niaga, the purpose of the takeover plan is for business development and expansion of the company's ecosystem as one of the leading e-commerce companies in Indonesia.