Nev Stored Energy Expands Stake in Green Power (LABA) with Major Share Purchase
JAKARTA, investortrust.id – Nev Stored Energy, the controlling shareholder of PT Green Power Group Tbk (LABA), has made a significant purchase of nearly 4 million shares of the company from the open market on February 28, 2025. This marks the first time the controlling entity has increased its stake since officially acquiring a majority shareholding in LABA.
Nev Stored became the controlling shareholder after securing 50.75% of LABA’s shares on June 28, 2024. According to an official statement released by LABA on the Indonesia Stock Exchange (BEI) on Saturday, March 1, 2025, the latest acquisition was executed in phases, totaling 3.95 million shares at varying price levels.
“The purpose of the transaction is to increase our ownership stake. With this purchase, Nev Stored’s total ownership in LABA has risen from 50.75% to 51.11%,” stated the official announcement.
Strategic Expansion into Nickel Mining
The move follows LABA’s recent entry into the nickel mining sector. On Wednesday, February 26, 2025, the company signed a memorandum of understanding (MoU) to acquire a 45% stake in PT Gotion Indonesia Materials (GIM). The shares will be purchased from PT Neopower Teknologi Indonesia (NTI).
GIM holds a nickel mining business license (IUP) and office facilities, which aligns with LABA’s strategy to expand across the electric vehicle (EV) battery value chain. “If all goes according to plan, the company will secure a 45% stake in GIM,” LABA's management stated in its disclosure to BEI.
The acquisition is expected to enhance LABA’s profitability and strengthen its presence in the renewable energy sector, integrating upstream and downstream operations within the battery industry.
Future Business Strategy
LABA’s management outlined a long-term growth plan, which includes four key business divisions:
- Raw materials for battery production – through nickel mining operations.
- Industrial estate development – focusing on battery material processing.
- Battery material trading – strengthening the company’s supply chain.
- Expansion within the renewable energy sector – to support the transition to sustainable energy.
By advancing these initiatives, LABA aims to position itself as a key player in Indonesia’s electric vehicle and renewable energy industries.