Looking Back At The Non-Coal Sector, Indika Energy Owned By Agus Lasmono Sudwikatmono Conglomerate Invests In Digital Companies

Illustration. (Photo: Doc. Indika Energy)

JAKARTA - The coal mining company owned by conglomerate Agus Lasmono Sudwikatmono, PT Indika Energy Tbk (INDY) through one of its subsidiaries, Indika Ventures Pte Ltd, has invested in PT Narada Sahara Kencana (ADX), a limited liability company engaged in the service sector. digital and advertising.

Indika Energy's Corporate Secretary Adi Pramono in an information disclosure on the Indonesia Stock Exchange (IDX) website, quoted Monday, March 7, that equity participation will be made on March 1, 2022, through a number of transaction mechanisms. First, the investment is carried out through the conversion of debt securities owned by Indika Ventures based on the mandatory convertible bond participation agreement dated April 24, 2020, amounting to IDR 8 billion to 12.5 percent of shares in ADX.

Furthermore, the investment in new shares issued by ADX is IDR 7.5 billion, which is equivalent to 10 percent of shares in ADX.

"This transaction is a strategic step for the company as a diversification strategy," said Adi Pramono.

With the completion of this equity transaction, Indika Ventures will own a 22.5 percent stake in ADX. Indika Energy is noted to be keen to diversify its business into the non-coal sector.

Previously, INDY had announced a plan to transfer all ownership in PT Petrosea Tbk (PTRO), a company engaged in the mining contractor business, to PT Caraka Reksa Optima (CARA).

Based on the conditional share sale and purchase agreement on February 18, 2022 and effective February 25, 2022, INDY intends to sell all 704.014.200 shares representing 69.80 percent share ownership in PTRO.

Meanwhile, the agreed valuation for all shares in PTRO is equivalent to USD 210 million. Thus, the estimated sales value of the proposed transaction is equivalent to the rupiah amount of USD 146.58 million.