Ahead of Rights Issue, PIK2’s Parent Sells Rp 2.5 Trillion Stake to Boost Public Ownership
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JAKARTA, Investortrust.id — PT Multi Artha Pratama, the controlling shareholder of PT Pantai Indah Kapuk Dua Tbk, or PANI, has sold a 1.05% stake worth Rp 2.50 trillion, equal to about $153 million, as part of efforts to increase public ownership of the PIK2 developer ahead of a planned rights issue.
In a statement to the Indonesia Stock Exchange on Monday, Oct 6, 2025, PANI’s management said the share sale was intended to boost trading liquidity and broaden its investor base. “This move is expected to enhance liquidity and attract more participation from both foreign and domestic investors,” the company said in the disclosure.
Following the transaction, Multi Artha Pratama’s ownership in PANI declined from 89.93% to 88.88%. The company is jointly owned by Agung Sedayu Group and Salim Group, each holding a 50% stake.
The sale took place as PANI prepares to launch its third rights issue, officially called a capital increase with preemptive rights (PMHMETD III), involving 1.21 billion new shares. The corporate action will proceed once approved by an extraordinary general meeting of shareholders.
Proceeds from the rights issue will be used to increase ownership in PANI’s subsidiaries. A large portion will fund the purchase of additional shares in PT Bangun Kosambi Sukses Tbk, or CBDK, while the remainder will be allocated to capital injections in other subsidiaries—PT Cahaya Inti Sentosa, PT Karunia Utama Selaras, and PT Panorama Eka Tunggal.
PANI plans to acquire 44.10% of CBDK shares worth Rp 16.12 trillion, equal to about $990 million. Once completed, this transaction will raise PANI’s ownership in CBDK from 45.9% to 90%, consolidating its control over the core property developer behind the PIK2 mega township project in north Jakarta.