PIK2 Shares Drop as Pantai Indah Kapuk Dua Announces Rp300 Billion Private Placement
Key Takeaways
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JAKARTA, Investortrust.id — PT Pantai Indah Kapuk Dua Tbk, or PANI, announced on Tuesday, Aug. 26, 2025, that it will conduct a private placement of 20.90 million new shares priced at Rp14,350 each, raising a total of Rp300 billion, or $18.7 million.
The news sent PANI shares lower at the opening. By 09:17 a.m. Jakarta time, the stock had fallen Rp1,000, or 6.24%, to Rp15,025. Shares of its subsidiary, PT Bangun Kosambi Sukses Tbk, or CBDK, also dropped 4.74% to Rp6,550.
In its official disclosure to the Indonesia Stock Exchange (BEI), management said the fresh funds would strengthen the company’s capital structure and support the operations of subsidiaries including PT Cahaya Inti Sentosa, PT Panorama Eka Tunggal, and PT Karunia Utama Selaras, each majority-owned by PANI with stakes of more than 99%.
Shareholder Approval and Timing
The company said this private placement, officially termed a non-preemptive rights issue (PMTHMED III), will take place on Sept. 2, 2025. The plan was previously approved by shareholders at an extraordinary general meeting (RUPSLB) on June 26, 2024.
Pantai Indah Kapuk Dua, a flagship property developer backed by Agung Sedayu Group and Salim Group, had earlier received approval to issue up to 10% of its shares, equivalent to 1.56 billion shares with a nominal value of Rp100 each.
Capital Structure Impact
Following the transaction, the entry of a strategic investor will reshape PANI’s shareholder composition. PT Multi Artha Pratama’s stake will fall from 89.02% to 81.09%, the new investor will hold 9.09%, and public shareholders will own 9.82%.
PANI emphasized that proceeds from the placement will bolster its equity base and potentially finance business expansion across the group.
The move follows the company’s major rights issue at the end of 2023, when it raised Rp10.48 trillion ($653 million) by selling 2.09 billion shares at Rp5,000 apiece. About Rp9.4 trillion from that offering was allocated to acquire seven companies controlling large land reserves for future development.
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